  Let $X$ be a perfectoid space with tilt $X^\flat$. We construct a canonical
map $\theta:\operatorname{Pic} X^\flat\to\lim\operatorname{Pic} X$ where the
(inverse) limit is taken over the $p$-power map, and show that $\theta$ is an
isomorphism if $R = \Gamma(X,\mathscr{O}_X)$ is a perfectoid ring. As a
consequence we obtain a characterization of when the Picard groups of $X$ and
$X^\flat$ agree in terms of the $p$-divisibility of $\operatorname{Pic} X$. The
main technical ingredient is the vanishing of higher derived limits of the unit
group $R^*$, whence the main result follows from the Grothendieck spectral
sequence.
