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Satoshi Nakaboto: ‘Bitcoin is now worth as much as Netflix’

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Inside money, markets, and big tech

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 Habermass used to say: Crack open this tasty lobster!

We closed the day, August 20 2020, at a price of $11,878. That’s a minor 0.99 percent increase in 24 hours, or $116. It was the highest closing price in one day.

We’re still 40 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin‘s market cap ended the day at $219,350,310,326. It now commands 61 percent of the total crypto market.

Yesterday’s volume of $20,175,242,945 was the lowest in ten days, 11 percent below last year’s average, and 72 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 325 tons of gold.

A total of 333,537 transactions were conducted yesterday, which is 4 percent above last year’s average and 26 percent below last year’s high.

Yesterday’s average transaction fee concerned $2.81. That’s $1.10 below last year’s high of $3.91.

As of now, there are 18,966 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.

Furthermore, the top 10 Bitcoin addresses house 4.9 percent of the total supply, the top 100 14.2 percent, and the top 1000 34.8 percent.

With a market capitalization of $219 billion, Netflix 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 100.0 percent behind being on track. Bitcoin‘s price should have been $526,084 by now, according to

On a yearly basis Bitcoin now uses an estimated 66 terawatt hour of electricity. That’s the equivalent of Czech Republic’s energy consumption.

Yesterday 33,256 fresh tweets about Bitcoin were sent out into the world. That’s 62.8 percent above last year’s average. The maximum amount of tweets per day last year about Bitcoin was 82,838.

This was yesterday’s most engaged tweet about Bitcoin:

Bitcoin bugs insist that interest in Bitcoin is booming. Yet the facts tell a different story. Despite a massive effort to pump #Bitcoin, interest is still below its 2019 peak, and not even close to the peak reached in 2017. In contrast, interest in #gold is hitting new highs.

— Peter Schiff (@PeterSchiff) August 20, 2020

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

Bitcoin Goes Mainstream in Turkey with National Soccer Team Sponsorship by BTCTurk from r/CryptoMarkets


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 August 21, 2020 — 08:57 UTC

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