It is no secret that the price of bitcoin has gone up. This has not been caused by purchasing power inflation of fiat currencies. The price has increased because more people have seen the value in using bitcoin, and are willing to put their money where their mouth is.
You made a good point there, it wasn’t just about fiat losing value, it is because Bitcoin has increased a lot in value. A lot of people are now interested to invest their money in Bitcoin and the worth of bitcoin compared to what it was back then has changed so much, and one Bitcoin today can get you like sixty iPhone 13 pro’s. Fiat is slowly losing value and bitcoin is quick in gaining more and more value every year.
Someone once made a comparison like this using Tesla, and asking whether to buy bitcoin or a Tesla and which of them would be worth it in future. Definitely it is bitcoin, because a Tesla you buy today is going to lose value tomorrow and will become a second-hand/used product in the market, and if you’re going to be selling it, you will sell it around half of what you bought it. But, Bitcoin will be increasing in value and you will sell more than double of what you paid for it.