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Houses very cheap in bitcoin
The Citizen
|November 05, 2024
BETTER ASSET: R1M SA HOME BOUGHT IN 2017 COST 12 BTC. ITS VALUE IS LESS THAN 1.5 BTC TODAY
R1 million house bought in 2017 would have cost us just shy of 12 bitcoin (BTC).
Today, the value of that property is 1.44 BTC after allowing for increases in residential property values as tracked by Statistics SA.
SA house prices are already considered cheap relative to many overseas markets but are even more affordable when measured in bitcoin.
Chart 1 shows BTC's deflationary power since 2017. BTC broke $70 000 last week and hit all-time highs in some currencies - though not when measured in ZAR, which has been strengthening against the US dollar in recent months.
Another way is that if you invested your R1 million in BTC in January 2017 rather than a house, you would have 15.9 BTC today, worth R19.5 million.
This story is from the November 05, 2024 edition of The Citizen.
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