Bitcoin's purchasing power relative to Apple's flagship smartphone has declined precipitously over the last 15 years, according to data shared by market commentator Master of Crypto. The analysis compares the cost of an iPhone in Bitcoin terms, illustrating the cryptocurrency's price appreciation against the tech giant's hardware.
The data indicates that in 2011, one Bitcoin could purchase 156 iPhone 4S devices. By 2014, the ratio had dropped to 1.6 iPhones per Bitcoin. The trend continued to deteriorate, with the ratio falling to 0.19 iPhones per Bitcoin in 2017, 0.019 iPhones per Bitcoin in 2021, and 0.0069 iPhones per Bitcoin in 2025.
As of the latest data point, one Bitcoin is reported to buy approximately 0.015 iPhones. This represents a decline of 99.99% in Bitcoin's purchasing power for iPhones since 2011. Conversely, the report notes that one Bitcoin now buys 60 iPhone Pro Maxes, compared to just 0.9 in 2016.
On the day of the report, Apple unveiled the $2,000 foldable iPhone Duo, along with the iPhone 18 Pro and iPhone 18 Pro Max, priced at $1,200 and $1,300 respectively. The new devices feature the A20 Pro chip, which leaked Geekbench scores suggest has a single-core score of 4,725.
Coinbase Global Inc. and Gemini responded to the launch by posting images of the new iPhone Duo with Bitcoin charts, while former Binance CEO Changpeng Zhao (CZ) commented on the device's utility for charting.
