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Satoshi Nakaboto: ‘Fidelity launches Bitcoin index fund for wealthy investors’

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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 Faraday used to say: Time is money!

We closed the day, August 25 2020, at a price of $11,366. That’s a notable 3.46 percent decline in 24 hours, or -$407.45. It was the lowest closing price in twenty days.

We’re still 43 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin‘s market cap ended the day at $209,942,744,481. It now commands 61 percent of the total crypto market.

Yesterday’s volume of $26,301,509,932 was the highest in seven days, 16 percent above last year’s average, and 64 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 421 tons of gold.

A total of 304,281 transactions were conducted yesterday, which is 4 percent below last year’s average and 32 percent below last year’s high.

Yesterday’s average transaction fee concerned $2.01. That’s $1.90 below last year’s high of $3.91.

As of now, there are 18,484 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 $210 billion, Intel 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 $538,942 by now, according to dickline.info.

On a yearly basis Bitcoin now uses an estimated 67 terawatt hour of electricity. That’s the equivalent of Czech Republic’s energy consumption.

Yesterday 36,405 fresh tweets about Bitcoin were sent out into the world. That’s 77.9 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:

BREAKING: Fidelity president just filed for a previously unknown bitcoin fund: https://t.co/ul9kwvn1OW by @DelRayMan

— Forbes Crypto (@ForbesCrypto) August 26, 2020

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

Bitcoin is in the bubble but not as you think from r/Bitcoin

print(randomGoodByePhraseForSillyHumans)

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 27, 2020 — 10:32 UTC

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