Picture this, dear reader: It's 2016, and for the princely sum of $288,400, you could step into the American dream: your own home. Now, fast forward to 2024, that same piece of suburban paradise will cost you a staggering $434,700. Salaries have not caught up to the same level of gymnastics, leaving many young people clutching their wallets as if they were bracing for the next unexpected subscription charge.
But what if I told you there was a way to make homeownership not only possible but ridiculously attainable? Enter stage left: bitcoin. Yes, the wonderful orange coin that rises, falls and spins faster than a politician's promises during election season.
<blockquote class="twitter-tweet”>
In 8 years:
Average price of housing in <a target="_blank" href="https://twitter.com/hashtag/btc?src=hash&ref_src=twsrc%5Etfw”>#btc = -99%
2016: 664 btc
2024: 4.8 btc
Average price of housing in <a target="_blank" href="https://twitter.com/search?q=%24USD&src=ctag&ref_src=twsrc%5Etfw”>$USD = +50%
2016: $288,000
2024: $434,000
Could 1 <a target="_blank" href="https://twitter.com/hashtag/bitcoin?src=hash&ref_src=twsrc%5Etfw”>#bitcoin Buying your dream home in 2028? pic.twitter.com/Op4NfrHUhG
– bitcoin Pro Magazine (@BitcoinMagPro) <a target="_blank" href="https://twitter.com/BitcoinMagPro/status/1857064473472704563?ref_src=twsrc%5Etfw”>November 14, 2024
Let's talk numbers, shall we?
In 2016, if you had 664 btc burning a hole in your pocket, you could trade it for a mid-sized house in the US. By 2020, that figure had plummeted to a much tidier 45 btc. And now, in the big year 2024, just 4.8 btc could get you a place to call your own. At this rate, we're just a few years away from buying a house with the change in the back of Satoshi's metaphorical couch.
Let's marvel at this for a moment: As housing prices in fiat terms continue their relentless climb (like an escalator with no kill switch), bitcoin's purchasing power has headed in the opposite direction. It is not just about defending against inflation; he laughs in the face of inflation, steals her lunch money, and then invites her to watch while he buys a house.
A ray of hope in a real estate crisis
For millennials, Generation Z, and generations to come, the dream of homeownership has often felt like trying to catch smoke with your bare hands. Wages are stagnant, the cost of living is skyrocketing, and central banks seem to be in a perpetual competition to print money. But bitcoin offers a way out. It is not just a currency; It's a lifesaver: a savings instrument that actually rewards you for your discipline and foresight.
The bitcoin Owner's Manual
Imagine saving for a down payment in bitcoin instead of fiat currency. While the dollar in your savings account loses purchasing power faster than an ice cream cone in the sun, your bitcoin savings could be growing, not just in value, but in what it can buy. At the current rate, we are hurtling toward a future where a single bitcoin could well allow us to buy a house, a car, and possibly even the white picket fence put up just in case.
And here's the kicker: the rapid decline in the number of Bitcoins needed to buy a house isn't just a coincidence. It is a reflection of the deflationary nature of bitcoin and its growing adoption as a global store of value. When listed in bitcoin, houses are becoming cheaper. When priced in dollars, they are becoming more expensive. You don't have to be a financial wizard to figure out which one makes the most sense to save.
A word of caution (and optimism)
Of course, bitcoin is not without volatility. There will be days when the price will move faster than a caffeinated squirrel. But for those who take a long-term view, the trend is clear: bitcoin is the best savings instrument humanity has ever seen.
So, to all you young families and potential homeowners, take heart. The dream of owning your own home is not dead, it has simply been reinvented. The answer is not to work harder or save more in a currency that loses value every day. The answer is bitcoin.
And one day soon, when you are sitting on the porch of your own house, purchased with a single bitcoin, you will raise a glass and say: “Cheers, Satoshi. “You made this possible.”
Now where is that bitcoin wallet?
This article is a Carry. The opinions expressed are entirely those of the author and do not necessarily reflect those of btc Inc or bitcoin Magazine.
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