BitcoinPPI is a website that provides information on Bitcoin’s purchasing power. Most of the analysis on Bitcoin’s purchasing power has been measured in the major fiat currencies such as USD, EUR, JPY, and GBP. BitcoinPPI measures the purchasing power of Bitcoin in terms of how many Big Mac hamburgers you can buy with one Bitcoin.
The website displays one chart showing the amount of Big Mac hamburger you can buy with one Bitcoin against time - The global BitcoinPPI . Users can also change the chart to display how many Big Macs can be purchased in specific countries and compare the trends on the same chart.
To buy a Big Mac with one Bitcoin you will need to convert it into a local currency for example GBP, USD, JPY, etc. The local BitcoinPPI does this by converting one Bitcoin into local currency and showing you how many Big Macs you can buy using one Bitcoin, in that specific country. Bitcoin exchange rates and Big Mac prices will be different in each country. For example, if you want to buy a Big Mac with Bitcoin in the UK, a different exchange rate will be used compared to the USA. Real local Big Mac prices are taken from the Big Mac index and local exchanges provide the data for the Bitcoin price in that specific country.
The global BitcoinPPI is a weighted average of local Bitcoin purchasing power. It tells you how many Big Mac burgers you can buy with one Bitcoin, on average, globally. BitcoinPPI provides a methodology on how their index was calculated and they update their charts every 15 minutes.
BitcoinPPI wants to provide users with an alternative view on Bitcoin's actual purchasing power, instead of focusing on its fiat price all the time. They encourage users to take the information from the website and perform their own analysis and provide a CSV file of their data available for anyone to use.
- Fun website and very easy to navigate and find information.
- Good explanations on their methodology and why purchasing power is important.
- Data is accessible
- Limited use