The Value of Bitcoin in 2023: Adjusting for Inflation
Bitcoin, despite criss-crossing the $20,000 mark since 2017, has actually maintained its value when inflation is taken into account. Data shows that $20,000 worth of Bitcoin purchased in 2017 is now worth $24,942. This demonstrates Bitcoin’s ability to function as a store of value, highlighting its potential as an investment asset. The current Bitcoin spot price of $26,050 reflects the relatively stable price action over the past six years. These findings raise questions about the lack of publicity surrounding Bitcoin’s inflation-adjusted performance. As the Federal Reserve addresses economic policy at the Jackson Hole Economic Symposium, investors are closely watching for potential shifts in the BTC price status quo.
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