Monday , November 30 2020

Satoshi Nakaboto: ‘Bitcoin’s market cap now equals Bank of America’s’

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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 Marcus Aurelius used to say: Let’s pull this rabbit out the hat!

We closed the day, August 06 2020, at a price of $11,779. That’s a minor 0.25 percent increase in 24 hours, or $29. It was the highest closing price in three hundred and sixty-two days.

We’re still 41 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin‘s market cap ended the day at $217,377,233,001. It now commands 62 percent of the total crypto market.

Yesterday’s volume of $23,400,740,340 was the lowest in one day, 3 percent above last year’s average, and 68 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 353 tons of gold.

A total of 353,798 transactions were conducted yesterday, which is 10 percent above last year’s average and 21 percent below last year’s high.

Yesterday’s average transaction fee concerned $3.63. That’s $0.28 below last year’s high of $3.91.

As of now, there are 18,918 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 14.3 percent, and the top 1000 34.8 percent.

With a market capitalization of $220 billion, Bank of Amerika 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 $491,691 by now, according to

On a yearly basis Bitcoin now uses an estimated 64 terawatt hour of electricity. That’s the equivalent of Switzerland’s energy consumption.

Yesterday 38,775 fresh tweets about Bitcoin were sent out into the world. That’s 92.9 percent above last year’s average. The maximum amount of tweets per day last year about Bitcoin was 82,838.

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

Control of #Bitcoin’s supply has been steadily shifting towards smaller entities.

The % of supply owned by entities holding ≤ 10 $BTC grew from 5.1% to 13.8% in 5 years, while the percent held by entities with 100-100k BTC declined from 62.9% to 49.8%.

— glassnode (@glassnode) August 6, 2020

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

Americans are “pouring” cash, stimulus checks into Bitcoin and gold 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 August 7, 2020 — 09:05 UTC

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