Fidelity Digital Assets reports that home prices in the United States in dollars have risen by more than $100,000 since 2020. But their cost in Bitcoin (BTC) has dropped to roughly one-tenth
Fidelity Digital Assets reports that home prices in the United States in dollars have risen by more than $100,000 since 2020. But their cost in Bitcoin (BTC) has dropped to roughly one-tenth of what it was.
As per Fidelity's analysis, a typical U.S. house has fallen from costing more than 50 BTC to about 5 BTC over that stretch. Bitcoin, as of press time, was trading at $64,435, which means in terms of Bitcoin value, the cost has dropped from $3,221,750 to $322,175.
Fidelity's Zack Wainwright argues the shift reflects currency debasement rather than genuine asset appreciation, since the issue lies with the unit of account rather than the asset itself.
Debasement means a currency loses purchasing power over time, usually from money-supply expansion or inflation, so the same dollar buys less.
Related: Real estate mogul Grant Cardone just sold his Miami mansion for 400 Bitcoin
Real estate investor Grant Cardone has seized on that framing.
"Fidelity Digital Assets reports U.S. homes up $100k since 2020. When priced against bitcoin, the cost of homes declined 10x," Cardone posted.
He called this another reason Cardone Capital layers Bitcoin into its institutional real estate deals, to capture "the appreciation of the housing and the appreciation of the Bitcoin," or "double 10X."
Cardone has been explicit that Bitcoin plays no role in the property purchase itself and that the transaction closes as a straightforward cash or financed deal with the seller. Bitcoin gets layered in separately, at or shortly after closing, wrapped into the same LLC as the real estate.
For instance, in 2025, Cardone Capital, in a joint venture with Boca Raton-based Penn-Florida Companies, acquired 101 Via Mizner, a 14-story, 366-unit luxury apartment complex in Boca Raton, out of bankruptcy for $235 million.
Cardone Capital contributed $220 million toward the acquisition, while Penn-Florida added the remaining $15 million. Combined with roughly $100 million in Bitcoin folded into the fund structure, the total raised reached about $335 million.
Cardone has framed the structure as opening institutional-grade assets to retail investors who would otherwise be shut out.
He has previously said the goal is combining "282 apartments and 282 Bitcoin," treating the pairing as a new asset class rather than a simple Bitcoin add-on.
