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Calculation to purchase a $500,000 house using the actual Bitcoin price of $67,000 per Bitcoin on March 6, 2024 vs 2011!

Given:

- Bitcoin price on March 6, 2024: $67,000 per Bitcoin

To purchase a $500,000 house in 2011:

- Bitcoin price on January 1, 2011: between $0.30 to $0.50 per Bitcoin

1. At $0.30 per Bitcoin:

Number of Bitcoins needed = $500,000 / $0.30 = 1,666,667 Bitcoins

2. At $0.50 per Bitcoin:

Number of Bitcoins needed = $500,000 / $0.50 = 1,000,000 Bitcoins

Now, let's compare it to the scenario in 2024 with a Bitcoin price of $67,000 per Bitcoin:

- At $67,000 per Bitcoin:

Number of Bitcoins needed = $500,000 / $67,000 ≈ 7.46 Bitcoins

Thus, the number of Bitcoins needed to purchase a $500,000 house in 2024, with a Bitcoin price of $67,000 per Bitcoin, would be approximately 7.46 Bitcoins. This illustrates the significant appreciation of Bitcoin's value from 2011 to 2024, resulting in a much lower number of Bitcoins required to buy the same priced house.

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