This report explores the purchasing power of Bitcoin (BTC) at its yearly peak prices from 2015 to 2023. It highlights the most valuable items that could have been bought with 1 BTC each year, such as a Tesla Model Y in 2021. The report also discusses the evolution of Bitcoin’s purchasing power, its acceptance as a means of payment, and the maximum purchasing power of 1 BTC each year.
Bitcoin’s Purchasing Power Over the Years
- 2015: At its peak price of $465, 1 BTC could have bought 3.5 Netflix shares or covered the cost of five nights in an Airbnb private room.
- 2016: With Bitcoin’s peak price at $977.14, 1 BTC could have purchased a meal at the Ithaa Undersea Restaurant or 47 Ethereum (ETH).
- 2017/2018: At Bitcoin’s all-year highs of $19,655.39 in 2017 and $18,343.00 in 2018, 1 BTC could have bought at least 300 Apple shares or covered a 13-night stay at the Las Vegas Trump International Hotel.
Bitcoin’s Purchasing Power in Recent Years
- 2019: Despite a decline to $12,996.00, 1 BTC could have paid for a 69-year Netflix premium subscription or purchased 334 Binance Coins (BNB).
- 2020: At an all-year high price of $28,837.29, 1 BTC could have paid for one of the most expensive flights or bought 196 shares of Nvidia.
- 2021: Bitcoin reached its ATH value of $67,617.02, and 1 BTC could have bought the newly-released 2021 Tesla Model Y.
Bitcoin’s Purchasing Power in the Near Future
- 2022: Bitcoin recorded a lower all-year high than the previous year, at $47,816.08. However, 1 BTC could still have bought three of the most powerful Bitcoin mining machines available.
- 2023: In July 2023, Bitcoin reached its highest value for the year so far, at $31,446.01. At this price, 1 BTC could have purchased 62.6 Nvidia shares or covered the Etihad Airways long-distance flight experience from New York City to Abu Dhabi.
- Investigate the Potential of Bitcoin: Given the fluctuating purchasing power of Bitcoin, it may be worth exploring the potential of this cryptocurrency as a long-term investment.
- Consider the Impact of Bitcoin’s Acceptance: As more companies and countries accept Bitcoin as a payment method, its purchasing power and influence are likely to increase.
- Monitor Bitcoin’s Value: Keeping an eye on Bitcoin’s value can provide insights into potential purchasing opportunities and the overall health of the cryptocurrency market.