Property denominated in Bitcoin 📏 Same houses. Fixed unit. UK index built monthly from HM Land Registry HPI 📊
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Joined December 2023
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Is the gap between house prices and CPI a decent proxy for the monetary premium in residential real estate?
25
Most people treat Bitcoin as the numerator.
“Bitcoin is down 20%.” “Bitcoin doubled.”
Flip it. Bitcoin is the denominator, the new unit of account.
People still invest in property to get more pounds, but that denominator gets less relevant every year.
47
United Kingdom · Flat / maisonette
In the 8 years prior to August 2026:
• Prices had a 1.4% CAGR in GBP
• Adjusted for CPIH inflation they had a -2.3% CAGR
In Bitcoin, prices fell 21.7% each year
80
Bitcoin House Price Index retweeted
United Kingdom · August 2026 · All property types
Time for average property to = 1 BTC
• Trend 3.4 years (Jan 2030)
• Range low 10 months (Jun 2027)
• Range high 6.4 years (Jan 2033)
Assumes property grows at its 10-year average and Bitcoin stays on its power law trend
London · August 2026 · All property types
Time for average property to = 1 BTC
• Trend 5.9 years (Jul 2032)
• Range low 3.3 years (Nov 2029)
• Range high 9.0 years (Aug 2035)
Assumes property grows at its 10-year average and Bitcoin stays on its power law trend
68
Hey @grok can you price a property listing for me using btchpi.com?
1
1
102
Bitcoin House Price Index retweeted
Once you see the trend of houses prices in BTC, you can't unsee it.
London · All property types
In the 8 years prior to August 2026:
• Prices had a 1.0% CAGR in GBP
• Adjusted for CPIH inflation they had a -2.7% CAGR
In Bitcoin, prices fell 22.0% each year
93
London · Terraced
In the 8 years prior to August 2026:
• Prices had a 2.2% CAGR in GBP
• Adjusted for CPIH inflation they had a -1.5% CAGR
In Bitcoin, prices fell 21.0% each year
95
August 2026 House Price Index
The average property price is now 11.9 BTC in London.
Annualised change 2018 to 2026 +1.0% in GBP, -22.0% in BTC.
United Kingdom · Terraced
In the 8 years prior to August 2026:
• Prices had a 3.7% CAGR in GBP
• Adjusted for CPIH inflation they had a -0.1% CAGR
In Bitcoin, prices fell 19.9% each year
House prices are falling ~20% per year
Great news for the poor as house prices set to fall again.
propertyindustryeye.com/hous…
130
London · Semi-detached
In the 8 years prior to August 2026:
• Prices had a 2.4% CAGR in GBP
• Adjusted for CPIH inflation they had a -1.3% CAGR
In Bitcoin, prices fell 20.9% each year
2
179
Bitcoin House Price Index retweeted
Superprime ‘buy to leave’ is the cleanest case of the monetary premium in housing: apartments bought and intentionally left empty.
Generally, measuring the premium is hard. Property is a global asset class, but no two buildings are the same, and every plot sits in a local market with its own dynamics.
Here, no tenants and no cash flow. It is not an investment. Just trading an abundant asset (cash) for a scarce one (an address in a global city). Sell later for the same purchasing power or more. Or buy, borrow, die: never sell, refinance against the higher valuation for cash.
Menger would spot it immediately: a good acquired not for its use but for its expected purchasing power is money. The apartment scores well on saleability across time and badly across place, but its use as collateral makes up the difference: a bank will lend against it anywhere.
These apartments are savings accounts with front doors. The price is mostly monetary premium.
@anilpatel @leonwankum @MartyBent
United Kingdom · All property types
In the 8 years prior to August 2026:
• Prices had a 3.1% CAGR in GBP
• Adjusted for CPIH inflation they had a -0.6% CAGR
In Bitcoin, prices fell 20.3% each year
114
United Kingdom · Semi-detached
In the 8 years prior to August 2026:
• Prices had a 3.7% CAGR in GBP
• Adjusted for CPIH inflation they had a -0.1% CAGR
In Bitcoin, prices fell 19.9% each year
101
United Kingdom · August 2026 · All property types
Time for average property to = 1 BTC
• Trend 3.4 years (Jan 2030)
• Range low 10 months (Jun 2027)
• Range high 6.4 years (Jan 2033)
Assumes property grows at its 10-year average and Bitcoin stays on its power law trend
Superprime ‘buy to leave’ is the cleanest case of the monetary premium in housing: apartments bought and intentionally left empty.
Generally, measuring the premium is hard. Property is a global asset class, but no two buildings are the same, and every plot sits in a local market with its own dynamics.
Here, no tenants and no cash flow. It is not an investment. Just trading an abundant asset (cash) for a scarce one (an address in a global city). Sell later for the same purchasing power or more. Or buy, borrow, die: never sell, refinance against the higher valuation for cash.
Menger would spot it immediately: a good acquired not for its use but for its expected purchasing power is money. The apartment scores well on saleability across time and badly across place, but its use as collateral makes up the difference: a bank will lend against it anywhere.
These apartments are savings accounts with front doors. The price is mostly monetary premium.
@anilpatel @leonwankum @MartyBent