Bitcoiner Price Index (BPI) Update for September 2024
As of 09/30/2024:
BTC Price: ~$63,330
Year-over-year CPI change in USD: 2.41%
Year-over-year CPI change in BTC: -54.02%
Including this data in my previous analysis of the last decade, the year-over-year trend in CPI is an increase of 0.04%, while the trend in BPI is now -0.14%. This suggests a slow but consistent increase in the cost of goods and services for those living on a US Dollar standard, and a decrease in costs for those living on a BTC standard.
It is worth noting that despite the extremely sharp spikes in BPI seen in 2015, 2019, and 2023, the average % change in costs of goods year-over-year for Bitcoiners is still decreasing at over 3x the rate that prices are increasing in USD terms.