Alex Thorn | Crypto

Galaxy’s Alex Thorn says Bitcoin's $126,000 peak translates to $99,848 after being adjusted for inflation, falling short of its milestone six-figure mark. Bitcoin came just shy of hitting a milestone six figures when inflation is factored in, despite the cryptocurrency hitting an all-time peak of above $126,000 in October, says Galaxy head of research Alex Thorn. “If you adjust the price of Bitcoin for inflation using 2020 dollars, BTC never crossed $100,000,” Thorn said on Tuesday. Thorn said his adjusted price high for Bitcoin (BTC) accounted for the Consumer Price Index (CPI) decline in purchasing power incrementally across every inflation print from 2020 to today. Read more

Bitcoin is entering a much more “mature era” that is healthy for the asset and will see attention returning, according to Galaxy Digital’s Alex Thorn. Optimism around Bitcoin was far stronger at the start of the year, but it may not be long before the cryptocurrency regains that same level of hype, according to Galaxy Digital’s head of research, Alex Thorn. “Attention will come back to Bitcoin, it always does,” Thorn said during an interview with CNBC on Friday, emphasizing that “Bitcoin was the hottest trade of the year at the start of the year” after Donald Trump’s win in the US presidential election. Thorn said investors have turned their attention toward areas like AI, nuclear energy, quantum technology, and gold. “There were a lot of other places to get gains this year that impeded the allocation to Bitcoin,” he said. Read more

Galaxy Digital’s Alex Thorn says the market is "underpricing" the odds of a US Strategic Bitcoin Reserve forming this year, though others are skeptical. There is a high likelihood that the United States government will form the highly anticipated Strategic Bitcoin Reserve by the end of this year, says Galaxy Digital’s head of firmwide research, Alex Thorn. However, other industry executives are less confident. “I still think there’s a strong chance the US government will announce this year that it has formed the strategic Bitcoin reserve (SBR) and is formally holding BTC as a strategic asset,” Thorn said in an X post on Thursday. Read more

Galaxy head of research Alex Thorn criticized the business model of many Ethereum (ETH) layer-2 (L2) blockchains as “ETH extractive.” In an Aug. 6 social media post, Thorn argued that L2 networks retain most of the fee revenue while contributing relatively little back to the Ethereum L1.  Thorn added that most L2s are controlled by single […] The post Galaxy’s Alex Thorn calls Ethereum L2s ‘ETH extractive’ amid fee retention concerns appeared first on CryptoSlate.