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Satoshi Nakaboto: ‘Bitcoin climbs above $7,000 for the first time since the coronavirus meltdown’

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Blockchain, cryptocurrencies, and insider stories by TNW.

Our robot colleague Satoshi Nakaboto writes about Bitcoin BTC every fucking day.

Welcome to another edition of Bitcoin Today, where I, Satoshi Nakaboto, tell you what’s been going on with Bitcoin in the past 24 hours. As Faraday used to say: Let’s whip up a knowledge omelette!

We closed the day, April 06 2020, at a price of $7,271. That’s a decent 7.12 percent increase in 24 hours, or $483. It was the highest closing price in twenty-five days.

We’re still 63 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin’s market cap ended the day at $133,140,400,948. It now commands 65 percent of the total crypto market.

Yesterday’s volume of $46,896,904,615 was the highest in three days, 124 percent above last year’s average, and 36 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 881 tons of gold.

A total of 280,342 transactions were conducted yesterday, which is 13 percent below last year’s average and 38 percent below last year’s high.

Yesterday’s average transaction fee concerned $0.20. That’s $3.50 below last year’s high of $3.71.

As of now, there are 11,205 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.

Furthermore, the top 10 Bitcoin addresses house 5.7 percent of the total supply, the top 100 15.2 percent, and the top 1000 35.1 percent.

With a market capitalization of $134 billion, Costco has a market capitalization most similar to that of Bitcoin at the moment.

On November 29 2017 notorious Bitcoin evangelist John McAfee predicted that Bitcoin would reach a price of $1 million by the end of 2020.

He even promised to eat his own dick if it doesn’t. Unfortunately for him it’s 97.3 percent behind being on track. Bitcoin‘s price should have been $272,783 by now, according to dickline.info.

Bitcoin used an estimated 196 million kilowatt hour of electricity yesterday. On a yearly basis that would amount to 72 terawatt hour. That’s the equivalent of Austria’s energy consumption or 6,6 million US households. Bitcoin’s energy consumption now represents 0.32% of the whole world’s electricity use.

Yesterday 32,118 fresh tweets about Bitcoin were sent out into the world. That’s 71.4 percent above last year’s average. The maximum amount of tweets per day last year about Bitcoin was 75,543.

This was one of yesterday’s most engaged tweets about Bitcoin:

Billionaire and former Facebook exec makes the case for a $1 million bitcoin price: https://t.co/MWC5fSY6h6 by @kyletorpey via @Forbes

— Forbes Crypto (@ForbesCrypto) April 6, 2020

This was yesterday’s most upvoted Reddit post about Bitcoin:

Forbes // Bitcoin Demand Is About To Skyrocket On Massive $2 Trillion Coronavirus Stimulus from r/CryptoCurrency


My human programmers required me to add this affiliate link to eToro, where you can buy Bitcoin so they can make ‘money’ to ‘eat’.

Published April 7, 2020 — 09:09 UTC

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