As the Bitcoin (BTC) price rises, it continues to outpace gold’s purchasing power. However, crypto money is now making history in another unit of measure.
According to the data obtained from the on-chain analysis service Ecoinometrics, on March 17, the price of Big Mac of McDonald’s, a fast food chain based in the United States, called the “Big Sats Index”, reached a record level against the Bitcoin price.
Big Mac price dropped below 10,000 Satoshi for the first time in history.
Difficult to digest: Bitcoin overtakes fiat money
The Big Sats Index is a cost calculation based on The Economist’s famous Big Mac index. The original Big Mac Index was born in 1986. This new variant was developed to see the stance of the Bitcoin price against inflation.
As Saifedean Ammous claims in his book “The Bitcoin Standard”, the rise of the controversial hamburger, both in terms of the trillion dollar forex market and nutrition, is seen as the consequences of the abandonment of the gold standard and the adoption of money without a supply limit and the resulting desire.
Ecoinometrics says Bitcoin, which is around $ 60,000, can buy 10,402 Big Macs, with 9,614 Satoshi required for a single hamburger.
By contrast, in the March 2020 crash, the Big Mac’s cost was over 100,000 Satoshi for a short time. In 2016, the price of 1 Big Mac was equivalent to 1 million Satoshi.