This is how many Big Macs you can buy with 1 BTC

Measured in Big Macs, Bitcoin’s (BTC) purchasing power is approaching its highest level since the 2017 bull market, offering yet another indicator of the digital currency’s rapid appreciation.

The global Bitcoin purchasing power index, or PPI, which measures how many McDonald’s Big Mac hamburgers you can buy with 1 BTC, rose 0.2% to 6,341.26 on Wednesday. Put differently, on average globally, a whole Bitcoin can buy you 6,341.26 Big Macs.

In the United States, based on current prices for both, you can get 3,274.91 Big Macs for 1 Bitcoin.

The last time Bitcoin’s purchasing power was this high was during the 2017 bull market, when the digital currency peaked near $20,000. On Dec. 17, 2017, 1 Bitcoin was worth 6,358.5 Big Macs. During the depths of the 2019 bear market, the Bitcoin PPI reached the low 1,200s.