#比特币市场表现 Seeing the news that Bitcoin has broken through $126,000, many people are celebrating. But today I came across an interesting perspective—if measured by the purchasing power of 2020, Bitcoin hasn't actually broken $100,000 yet. This reminded me of a detail that is often overlooked.

Inflation has been real over these years; our money has indeed depreciated. The same $100 has different purchasing power in 2020 and today. It's like the difference between "book gains" and "real gains"—the surface may look like a big increase, but after accounting for inflation, the actual return might not be as impressive.

What I want to remind you is that the difference between "nominal returns" and "real returns" in investing can be very misleading. When the market is euphoric, it's even more important to stay calm and ask yourself: Has my asset appreciation truly outpaced inflation? Is my portfolio allocation reasonable? Do short-term price fluctuations affect my long-term plans?

No matter how the market fluctuates, the safest approach is always—stay clear-headed, make asset allocations based on your risk tolerance, and don't let surface numbers cloud your judgment. Only then can you achieve steady wealth growth over a longer time horizon.