Satoshi Nakaboto: ‘US banks can now hold Bitcoin on behalf of their customers’

Our robot colleague Satoshi Nakaboto writes about Bitcoin 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 Plato used to say: Intelligence is in the eye of the beholder!

Bitcoin price

We closed the day, July 22 2020, at a price of $9,525. That’s a minor 1.60 percent increase in 24 hours, or $150. It was the highest closing price in twenty-eight days.

We’re still 52 percent below Bitcoin’s all-time high of $20,089 (December 17 2017).

Bitcoin market cap

Bitcoin’s market cap ended the day at $175,644,844,408. It now commands 63 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $16,532,254,884 was the lowest in one day, 27 percent below last year’s average, and 77 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 273 tons of gold.

Bitcoin transactions

A total of 364,648 transactions were conducted yesterday, which is 14 percent above last year’s average and 19 percent below last year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $2.26. That’s $1.65 below last year’s high of $3.91.

Bitcoin distribution by address

As of now, there are 13,433 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.

Furthermore, the top 10 Bitcoin addresses house 5.1 percent of the total supply, the top 100 14.3 percent, and the top 1000 34.8 percent.

Company with a market cap closest to Bitcoin

With a market capitalization of $177 billion, Abbott Laboratories has a market capitalization most similar to that of Bitcoin at the moment.

Bitcoin’s path towards $1 million

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 97.9 percent behind being on track. Bitcoin’s price should have been $457,333 by now, according to dickline.info.

Bitcoin energy consumption

On a yearly basis Bitcoin now uses an estimated 61 terawatt hour of electricity. That’s the equivalent of Algeria’s energy consumption.

Bitcoin on Twitter

Yesterday 25,069 fresh tweets about Bitcoin were sent out into the world. That’s 26.6 percent above last year’s average. The maximum amount of tweets per day last year about Bitcoin was 82,838.

Most popular posts about Bitcoin

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

BREAKING: U.S. regulators have given national banks the green light to custody cryptocurrencies on customers' behalf.@nikhileshde reports@USOCC @BrianBrooksOCChttps://t.co/ur7jbmaXlu

— CoinDesk Markets (@CoinDeskMarkets) July 22, 2020

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

BREAKING: U.S Banks Can Offer Bitcoin Custody Services Says OCC from r/Bitcoin

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