{"id":2807,"date":"2026-08-31T10:50:53","date_gmt":"2026-08-31T10:50:53","guid":{"rendered":"https:\/\/www.iforbes.cz\/?p=2807"},"modified":"2026-08-31T10:50:53","modified_gmt":"2026-08-31T10:50:53","slug":"studie-k-bitcoin-infinity-day-bitcoin-je-nyni-dvakrat-vzacnejsi-nez-zlato","status":"publish","type":"post","link":"https:\/\/www.iforbes.cz\/index.php\/2026\/08\/31\/studie-k-bitcoin-infinity-day-bitcoin-je-nyni-dvakrat-vzacnejsi-nez-zlato\/","title":{"rendered":"Studie k Bitcoin Infinity Day: Bitcoin je nyn\u00ed dvakr\u00e1t vz\u00e1cn\u011bj\u0161\u00ed ne\u017e zlato"},"content":{"rendered":"\n<p><strong>Nov\u00e1 studie <\/strong><a href=\"https:\/\/crypto4me.eu\/cs?promo=BID&amp;utm_source=ml&amp;utm_medium=pr&amp;utm_campaign=BID\"><strong>crypto4me<\/strong><\/a><strong> ukazuje, \u017ee po halvingu v roce 2024 dos\u00e1hl pom\u011br stock-to-flow u bitcoinu p\u0159ibli\u017en\u011b dvojn\u00e1sobku hodnoty tohoto ukazatele u zlata. U p\u0159\u00edle\u017eitosti Bitcoin Infinity Day \u2013 ka\u017edoro\u010dn\u00ed oslavy pevn\u011b stanoven\u00e9 nab\u00eddky 21 milion\u016f bitcoin\u016f, kter\u00e1 se uskute\u010dnila 21. srpna \u2013 zve\u0159ejnila crypto4me, slu\u017eba zam\u011b\u0159en\u00e1 na digit\u00e1ln\u00ed aktiva poskytovan\u00e1 regulovanou spole\u010dnost\u00ed Madison Six s povolen\u00edm podle na\u0159\u00edzen\u00ed MiCA, studii <\/strong><strong><em>Vz\u00e1cnost: algoritmus versus p\u0159\u00edrodn\u00ed rezervy<\/em><\/strong><strong>. Studie p\u0159esn\u011b vy\u010d\u00edsluje dlouhodob\u011b opakovan\u00e9 tvrzen\u00ed: podle ukazatele stock-to-flow je nyn\u00ed bitcoin zhruba dvakr\u00e1t vz\u00e1cn\u011bj\u0161\u00ed ne\u017e zlato.&nbsp;<\/strong><\/p>\n\n\n\n<p>Pom\u011br stock-to-flow (S2F) porovn\u00e1v\u00e1 existuj\u00edc\u00ed nab\u00eddku aktiva s novou nab\u00eddkou, kter\u00e1 p\u0159ib\u00fdv\u00e1 ka\u017ed\u00fd rok \u2013 jde o standardn\u00ed ukazatel toho, jak obt\u00ed\u017en\u00e9 je zv\u00fd\u0161it jeho nab\u00eddku. Podle nejnov\u011bj\u0161\u00edch \u00fadaj\u016f World Gold Council a U.S. Geological Survey dosahuje zlato hodnoty p\u0159ibli\u017en\u011b 59. Bitcoin, u n\u011bho\u017e halving v roce 2024 sn\u00ed\u017eil novou emisi na polovinu, dosahuje p\u0159ibli\u017en\u011b 120.<\/p>\n\n\n\n<p><strong>Kl\u00ed\u010dov\u00e9 zji\u0161t\u011bn\u00ed: zlom nastal v roce 2024<\/strong><\/p>\n\n\n\n<p>Kl\u00ed\u010dov\u00fdm poznatkem studie nen\u00ed samotn\u00fd pom\u011br, ale okam\u017eik, kdy ke zm\u011bn\u011b do\u0161lo. Proto\u017ee se nov\u00e1 nab\u00eddka bitcoinu p\u0159ibli\u017en\u011b ka\u017ed\u00e9 \u010dty\u0159i roky sni\u017euje na polovinu, zat\u00edmco produkce zlata se t\u00e9m\u011b\u0159 nem\u011bn\u00ed, k\u0159ivky vz\u00e1cnosti obou aktiv se v roce 2024 protnuly. P\u0159ed halvingem vykazovaly bitcoin a zlato p\u0159ibli\u017en\u011b stejnou m\u00edru vz\u00e1cnosti (oba ukazatele se pohybovaly kolem 60). Po halvingu dos\u00e1hl ukazatel u bitcoinu p\u0159ibli\u017en\u011b dvojn\u00e1sobku hodnoty u zlata \u2013 a pokud bude v\u0161e pokra\u010dovat jako doposud, halving v roce 2028 jej posune p\u0159ibli\u017en\u011b na \u010dty\u0159n\u00e1sobek hodnoty u zlata.<\/p>\n\n\n\n<p><strong>Otev\u0159en\u011b o limitech ukazatele<\/strong><\/p>\n\n\n\n<p>Na studii z oblasti kryptom\u011bn je neobvykl\u00e9, \u017ee celou jednu \u010d\u00e1st v\u011bnuje mez\u00edm vypov\u00eddac\u00ed schopnosti \u00fadaje uveden\u00e9ho v titulku. Otev\u0159en\u011b uv\u00e1d\u00ed, \u017ee S2F \u2013 kdysi popul\u00e1rn\u00ed \u201ecenov\u00fd model S2F\u201c, kter\u00fd po roce 2021 selhal \u2013 nep\u0159edpov\u00edd\u00e1 cenu. Pom\u011br zachycuje stav v konkr\u00e9tn\u00edm okam\u017eiku, nikoli nem\u011bnnou hodnotu, a vz\u00e1cnost nevypov\u00edd\u00e1 nic o volatilit\u011b. \u201eTo, \u017ee je obt\u00ed\u017en\u011bj\u0161\u00ed zv\u00fd\u0161it nab\u00eddku, neznamen\u00e1, \u017ee m\u00e1 dan\u00e9 aktivum vy\u0161\u0161\u00ed hodnotu nebo je bezpe\u010dn\u011bj\u0161\u00ed,\u201c uv\u00e1d\u00ed studie. Podle crypto4me je pr\u00e1v\u011b tato otev\u0159enost podstatn\u00e1: v\u011brohodn\u00e1 interpretace je u\u017e\u0161\u00ed a zaj\u00edmav\u011bj\u0161\u00ed ne\u017e obvykl\u00e1 siln\u00e1 tvrzen\u00ed.<\/p>\n\n\n\n<p><strong>Dostupnost<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/crypto4me.eu\/cs\/education\/nedostatek-algoritmus-versus-prirodni-zasoby?promo=BID&amp;utm_source=ml&amp;utm_medium=pr&amp;utm_campaign=BID\"><em>Vz\u00e1cnost: algoritmus versus p\u0159\u00edrodn\u00ed rezervy<\/em><\/a> je zdarma k dispozici na webu crypto4me spolu s koment\u00e1\u0159em autora a s\u00e9ri\u00ed p\u0159\u00edsp\u011bvk\u016f na soci\u00e1ln\u00edch s\u00edt\u00edch, kter\u00e9 porovn\u00e1vaj\u00ed vz\u00e1cnost bitcoinu se zlatem a dal\u0161\u00edmi komoditami. Studie slou\u017e\u00ed pouze k analytick\u00fdm a informa\u010dn\u00edm \u00fa\u010del\u016fm a nep\u0159edstavuje investi\u010dn\u00ed poradenstv\u00ed.<\/p>\n\n\n\n<p><strong>O crypto4me<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/crypto4me.eu\/cs\/registrace?promo=BID&amp;utm_source=ml&amp;utm_medium=pr&amp;utm_campaign=BID\">Crypto4me<\/a> umo\u017e\u0148uje n\u00e1kup v\u0161ech hlavn\u00edch kryptom\u011bn v\u010detn\u011b bitcoinu, etheru a SOL. V souladu s p\u0159\u00edsn\u00fdmi podm\u00ednkami evropsk\u00e9 licence MiCA spole\u010dnost zaji\u0161\u0165uje nejvy\u0161\u0161\u00ed standardy zabezpe\u010den\u00ed p\u0159i obchodov\u00e1n\u00ed a ukl\u00e1d\u00e1n\u00ed kryptom\u011bn v pen\u011b\u017eenk\u00e1ch i dal\u0161\u00ed opat\u0159en\u00ed, jako jsou v\u00edcefaktorov\u00e9 ov\u011b\u0159ov\u00e1n\u00ed klient\u016f, \u0161ifrov\u00e1n\u00ed a pravideln\u00e9 penetra\u010dn\u00ed testy.<\/p>\n\n\n\n<p>Slu\u017ebu crypto4me provozuje spole\u010dnost Madison Six j. s. a. Od 18. prosince 2025 je spole\u010dnost dr\u017eitelem povolen\u00ed k poskytov\u00e1n\u00ed slu\u017eeb souvisej\u00edc\u00edch s kryptoaktivy, kter\u00e9 j\u00ed ud\u011blila N\u00e1rodn\u00ed banka Slovenska pod \u010d\u00edslem 100-001-025-213 v souladu s na\u0159\u00edzen\u00edm MiCA*. Na z\u00e1klad\u011b tohoto povolen\u00ed je spole\u010dnost z\u00e1rove\u0148 opr\u00e1vn\u011bna poskytovat slu\u017eby souvisej\u00edc\u00ed s kryptoaktivy p\u0159eshrani\u010dn\u011b v cel\u00e9 EU\/EHP.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nov\u00e1 studie crypto4me ukazuje, \u017ee po halvingu v roce 2024 dos\u00e1hl pom\u011br stock-to-flow u bitcoinu p\u0159ibli\u017en\u011b dvojn\u00e1sobku hodnoty tohoto ukazatele<\/p>\n","protected":false},"author":1,"featured_media":2808,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout"},"categories":[58],"tags":[],"_links":{"self":[{"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/posts\/2807"}],"collection":[{"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/comments?post=2807"}],"version-history":[{"count":1,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/posts\/2807\/revisions"}],"predecessor-version":[{"id":2809,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/posts\/2807\/revisions\/2809"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/media\/2808"}],"wp:attachment":[{"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/media?parent=2807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/categories?post=2807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.iforbes.cz\/index.php\/wp-json\/wp\/v2\/tags?post=2807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}