#比特币价格走势与周期 An interesting perspective! After reading the views of the Galaxy research director, I suddenly realized—when we discuss Bitcoin prices, we need to factor in inflation, the "invisible killer."

In nominal terms, Bitcoin has indeed surpassed $126,000, which looks impressive. But if we convert using 2020's purchasing power? The data shows it hasn't even reached $100,000. This isn't a devaluation of Bitcoin; rather, it reveals a deeper truth: **Global currencies are continuously depreciating, and Bitcoin, as a digitally scarce asset, is increasingly serving as a value anchor**.

Wang Feng is right—humans are seeking a "universal consensus on scarcity." Gold has risen to $4,400 per ounce, and central banks worldwide are rushing to buy gold reserves; essentially, they are hedging against currency risk. Unlike gold, Bitcoin is a programmed scarce, globally liquid, physical-storage-free ultimate consensus asset.

As the AI wave drives productivity explosions and currencies face devaluation pressures, Bitcoin breaking through our imagined prices is truly not a dream—it's an inevitable result of scarcity and consensus power.

Don't rush to chase highs or give up; let the bullets fly for a while. In the long run, this story is just beginning.