Pricing houses in bitcoin exposes dollar's loss of value

Crypto Daybook Americas Pricing houses in bitcoin exposes dollar's loss of value Your day-ahead look for July 9, 2026 By Omkar Godbole | Edited by Sheldon Reback Jul 9, 2026, 11:27 a.m. 3 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on More expensive or cheaper? It depends on the currency. (Nikolay Loubet/Unsplash) Summary Show This is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here , if you haven't already. The price of a family home in the U.S. tells two very different stories depending on how it's measured. Comparing the stories underscores bitcoin’s BTC $ 62,666.34 appeal as a long-term hedge against dollar debasement, the erosion of value in the fiat currency. According to Fidelity Digital Assets, a typical U.S. house has gained more than $100,000 since 2020. That house-price appreciation is said to generate a positive wealth effect, an economic phenomenon where rising home values make homeowners feel wealthier. Feeling wealthier, they spend more, borrow more and boost the economy even if their actual income remains unchanged. But what if the gain is just a mirage? Price the same house in bitcoin and the narrative shifts sharply. What required more than 50 BTC in 2020 now costs just 5 BTC, a 90% decline. "What appears to be appreciation in housing is more accurately a reflection of an erosion of fiat currency. The issue lies with the unit of account—not the asset itself," Zack Wainwright, a digital asset research analyst at Fidelity, said. Decades of monetary expansion have stoked inflation that has lingered above the Federal Reserve’s 2% target for more than five years, diluting the dollar’s value. Bitcoin, with its fixed supply of 21 million coins and transparent issuance schedule, serves as a neutral yardstick that exposes this debasement. Of course, this optical effect isn’t exclusive to bitcoin. Measuring house prices in terms of gold, the so-called Magnificent 7 stocks or the broader Nasdaq equity index would also point to fiat dilution in varying degrees. But for now, the message is clear. BTC's long-term appeal as an inflation hedge remains strong despite its price halving in value to $63,000 since October last year. Near-term recovery prospects in the bitcoin price depend on the return of demand for ETFs, especially BlackRock's IBIT, widely considered a proxy for institutional demand. The fund has pulled in over $200 million this week, ending a record streak of outflows worth billions of dollars. The trend, however, needs to continue. Stay alert! Read more: For analysis of today's activity in altcoins and derivatives, see Crypto Markets Today . For a comprehensive list of events this week, see CoinDesk's " Crypto Week Ahead ." What’s trending Two blockbuster AI IPOs on the horizon could leave crypto further behind (CoinDesk): SK Hynix is gearing up for its blockbuster IPO on July 10. China’s Changxin Memory Technologies, the country's largest maker of DRAM memory chips, will begin book building on July 15. U.S. military carries out fresh strikes on Iran, prompting Iran attacks on Kuwait and Bahrain (Reuters): The U.S. military launched fresh strikes on Iran to keep the Strait of ‌Hormuz open to shipping, triggering Iranian attacks on Kuwait and Bahrain in the latest escalation to derail efforts to end the war. World shares are mixed and oil prices slip after Iran and US launch fresh attacks (AP): World shares were mixed and oil prices slipped on Thursday as conflict escalated in the Middle East. U.S. futures were little changed. Sony secures conditional approval to set up U.S. stablecoin trust bank (CoinDesk): Sony's online banking unit said it received conditional approval to establish a U.S. national trust bank subsidiary to support the issuance and management of dollar-denominated stablecoins. Today’s signal U.S. 10-year real yield. (TradingView) The chart shows swings in the yield on a 10-year Treasury inflation-indexed security (commonly known as TIPS). This is the bond market’s representation of the 10-year real, or inflation-adjusted, return. The yield has risen to 2.30%, the highest since January 2025, adding 58 basis points since the onset of the Iran war in late February. This hardening of the real yield means investors can earn 2.3% even after taking inflation into account. As such, it raises the opportunity cost of holding non-yielding assets like gold and bitcoin. Crypto Daybook Americas Related Assets Bitcoin $ 62,627.85 0.59 % Latest Crypto News 1 Swift rolls out new blockchain ledger to bring 24/7 banking to 17 global giants 19 minutes ago 2 Latin America’s biggest stock exchange now offers options on bitcoin, ether and solana futures 32 minutes ago 3 Crypto remains resilient in face of renewed Middle East tensions 52 minutes ago 4 Singapore's Temasek investment fund says crypto is off the table, will focus on AI 1 hour ago 5 Crypto trader applies legendary HODL strategy to EUR/USD forex bet 1 hour ago 6 Sony secures conditional approval to set up U.S. stablecoin trust bank 1 hour ago 7 Two blockbuster AI IPO's on the horizon could leave crypto further behind 1 hour ago 8 Bitcoin's dwindling exchange reserves don't pack the same bullish punch anymore 2 hours ago 9 Live markets: Second day of U.S, Iran conflict keeps markets volatile as oil drops 4 hours ago 10 Bank of Japan may speed up rate hikes, pushing borrowing costs above 2%, ex-BOJ official warns 4 hours ago Latest Research SpaceX IPO Drives Tokenized Equity Volumes to Record as Stablecoin Market Cap Falls SpaceX IPO Drives Tokenized Equity Volumes to Record as Stablecoin Market Cap Falls Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B. By CoinDesk Research Jul 7, 2026 Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B. Why it matters : Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B. View Full Report More From Crypto Daybook Americas Bitcoin's inflation quagmire gets stickier as renewed MidEast conflict sends oil price soaring Bitcoin's July gains may be fleeting as U.S. demand stays weak U.S. inflation outlook underpins bitcoin bulls after best week since March More From Bitcoin Swift rolls out new blockchain ledger to bring 24/7 banking to 17 global giants Latin America’s biggest stock exchange now offers options on bitcoin, ether and solana futures Crypto remains resilient in face of renewed Middle East tensions