Benzinga - Manhattan, widely recognized as a bustling city in New York with its lively neighborhoods, has long presented a challenging landscape for those in search of a new home.
What Happened: Data data from a real estate agency realtor reveals that there are currently 7,897 homes available for sale in Manhattan, spread across its 34 unique districts. With a median sold home price of $1.1 million, the real estate market in Manhattan continues to exert its appeal but presents a challenge for consumers, as inflation makes purchasing powerless.
Opinions on the best hedge against inflation differ among analysts, with some favoring Bitcoin (CRYPTO: BTC) while others, like Peter Schiff, believe that Gold is the superior choice.
Considering the scenario of purchasing $10,000 worth of Bitcoin when it was trading at $200, the subsequent outcome would have been significant.
Notably, Bitcoin crashed below the $200 threshold on January 14, 2015, marking a return to levels seen back in late 2013.
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Why It Matters: If you had invested $10,000 in Bitcoin in 2015 when it was trading at $200, you would have gained $1.29 million in profits today, which means a 12,907.50% return on your investment. Such substantial returns could potentially make purchasing a Manhattan apartment within reach.
Price Action: At the time of writing, BTC was trading at $26,015, down 4.62% in the last 24 hours, according to Benzinga Pro.
Read Next: Bitcoin, Ethereum, Dogecoin Drop As Grayscale Rally Fades: Analyst Predicts 16% Downside In September For Apex Crypto, Anticipates $23K Levels
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