March 2026 · London
Research and market data underpinning the BitReal thesis — on global real estate, the London property market, Bitcoin, and the intersection of all three.
The Thames · City of London · December 2024
Global Real Estate
Sources: Savills World Research, MSCI Real Assets, Grand View Research, Knight Frank Global Real Estate Report 2025. Total value figure includes residential, commercial and land.
Leadenhall Building · EC3 · January 2025
London & UK Property
| Market Segment | Gross Yield Range | Capital Growth (1yr) | Note |
|---|---|---|---|
| Prime Central London (residential) | 2.5% – 4.5% | +0.8% | Savills Q3 2025 |
| Outer Prime London (residential) | 4.5% – 5.6% | +2.4% | Savills Q3 2025 |
| East London / emerging boroughs | 6.7% – 7.3% | +3.1% | Zoopla, 2025 |
| UK North West (residential) | 6.1% – 6.5% | +4.2% | Strongest regional growth |
| Prime London offices | 4.0% – 4.5% | +2.7% | Mordor Intelligence, mid-2025 |
| UK logistics / industrial | 5.5% – 7.0% | +3.5% | Carter Jonas Q4 2025 |
Sources: Savills, Land Registry, Zoopla, ONS, Carter Jonas Commercial Market Outlook Q4 2025, Mordor Intelligence UK Commercial Real Estate Report 2025.
Bitcoin
| Asset | 1-Year Return (2024) | 5-Year CAGR | 10-Year CAGR |
|---|---|---|---|
| Bitcoin | +121% | ~155% | ~84% |
| S&P 500 | +25% | ~15% | ~12% |
| Gold | +27% | ~10% | ~8% |
| UK Residential (London) | +2.0% | ~3% | ~4.5% |
| UK Commercial Real Estate | +3.5% | ~4% | ~5% |
| US 10-Year Treasuries | -2.3% | ~0% | ~1% |
| Corporate / Institutional Holder | BTC Held (approx.) | Note |
|---|---|---|
| Strategy (formerly MicroStrategy) | 738,731 BTC | 3.5% of total supply. World's largest corporate holder. Average purchase price $66,385 |
| MARA Holdings | ~49,859 BTC | Bitcoin mining and treasury strategy |
| BlackRock IBIT ETF | $50bn+ AUM | Most successful crypto ETF launch in history |
| US Government (seized assets) | ~200,000 BTC | Strategic Bitcoin Reserve established March 2025 |
| All public companies combined | ~725,000 BTC | +135% growth in 2024. $120bn total value |
Sources: CoinGecko Bitcoin Treasuries, BitcoinTreasuries.net, IMF Crypto Monitor October 2025, BlackRock iShares, CoinGecko Research December 2024, BestBrokers Bitcoin CAGR analysis.
Lloyd's of London · EC3 · March 2025
The Intersection
The following scenarios illustrate the potential of systematically allocating a portion of real estate rental income into a Bitcoin treasury. These are illustrative projections only and do not constitute financial advice or a forecast of future performance.
| Scenario | Annual Rental Income | BTC Allocation | Annual £ into BTC | BTC Purchased per Year* |
|---|---|---|---|---|
| Conservative | £1m | 10% | £100k | ~1.8 BTC |
| Moderate | £5m | 15% | £750k | ~13.6 BTC |
| Growth | £20m | 20% | £4m | ~72 BTC |
| Scale | £100m | 20% | £20m | ~363 BTC |
* BTC purchased per year calculated at $70,000 per BTC (£55,118 at £1 = $1.27). At higher prices, less Bitcoin is purchased per £ deployed. BTC purchased = Annual £ into BTC ÷ BTC price in £. Example: £100,000 ÷ £55,118 = ~1.8 BTC. These are Year 1 figures only — as BTC price rises, annual Bitcoin accumulation will decrease for the same £ allocation.
| Metric | Figure | Significance |
|---|---|---|
| Global RE annual income | ~$3.5–4tn | Total addressable income stream for treasury conversion |
| 1% of global RE income into BTC | ~$35–40bn/year | Equivalent to ~3x current annual spot ETF inflows |
| UK annual rental income | ~£250–300bn | 10% allocation = £25–30bn into BTC per year |
| Bitcoin market cap vs global RE | ~0.8% | Digital collateral remains small relative to physical |
| RE income yield vs BTC 10yr CAGR | 5–7% vs ~84% | Income deployed into BTC has historically compounded at a materially higher rate |
| Strategy BTC treasury premium | ~2x book value | Markets price BTC treasury companies at a premium to underlying assets |
Sources: BitcoinTreasuries.net, CoinGecko, Savills, ONS, IMF, MSCI Real Assets. BTC price assumptions use approximate March 2026 spot pricing. Scenarios are illustrative only. Past performance is not indicative of future results.
Broadgate Central · EC2 · July 2025
Fund performance model
An interactive projection of how a BitReal-style fund could perform over 10 years — combining a growing real estate portfolio with systematic Bitcoin treasury accumulation. Select a scenario or set your own BTC and property CAGR assumptions using the sliders below.
Illustrative projection only. Not financial advice. BTC and property values grow at compound annual rates as set by the sliders. Recapitalisation events release equity at the selected LTV on the portfolio value at that year, with proceeds deployed into BTC; outstanding mortgage is deducted from total fund value. No fees, taxes, debt service costs or voids modelled. Past CAGR figures are not indicative of future performance. Full model methodology and worked calculations →
Macro Context
| Indicator | Figure | Source / Date |
|---|---|---|
| UK financial services GDP contribution | £280bn+ / ~12% of GDP | HM Treasury, 2025 |
| UK AI sector companies | 3,000+ | DSIT, 2025 |
| Bank of England base rate | 4.25% | May 2025 (fourth cut since peak of 5.25%) |
| UK 10-year gilt yield | ~4.5–4.6% | Carter Jonas, early 2026 |
| UK commercial RE transaction volume | £7bn in Q3 2025 | ~50% below 10-year quarterly average |
| Global crypto market cap | ~$4.2tn | IMF Crypto Monitor, Q3 2025 |
| Total tokenised real-world assets | $33.9bn | +70% growth in 2025. BlackRock leading |
| Bitcoin ETF total inflows (2025) | $6.96bn | BlackRock IBIT alone: $50bn+ AUM |
Sources: HM Treasury, Bank of England, Carter Jonas Commercial Market Outlook, IMF Crypto Assets Monitor October 2025, BlackRock iShares, DSIT UK AI Sector Report.
Disclaimer. This page is intended for information purposes only. Nothing on this site constitutes financial, legal or investment advice, nor does it constitute a financial promotion under the Financial Services and Markets Act 2000. BitReal is not authorised or regulated by the Financial Conduct Authority. All figures are sourced from publicly available third-party data and are provided for reference only. Past performance is not indicative of future results. Scenario projections are illustrative only.