Satoshi Nakaboto: ‘Bitcoin hits $11,000 as it surges 11% in a day’

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 Hannah Arendt used to say: Fight the power!

Bitcoin price

We closed the day, July 27 2020, at a price of $10,990. That’s a strong 10.96 percent increase in 24 hours, or $1085. It was the highest closing price in three hundred and forty-nine days.

We’re still 45 percent below Bitcoin’s all-time high of $20,089 (December 17 2017).

Bitcoin market cap

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Bitcoin’s market cap ended the day at $202,719,581,737. It now commands 64 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $35,359,749,590 was the highest in fifty-four days, 56 percent above last year’s average, and 52 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 569 tons of gold.

Bitcoin transactions

A total of 326,620 transactions were conducted yesterday, which is 2 percent above last year’s average and 27 percent below last year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $2.13. That’s $1.78 below last year’s high of $3.91.

Bitcoin distribution by address

As of now, there are 17,917 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 34.9 percent.

Company with a market cap closest to Bitcoin

With a market capitalization of $199 billion, Cisco Systems 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 97.8 percent behind being on track. Bitcoin’s price should have been $468,510 by now, according to dickline.info.

Bitcoin energy consumption

On a yearly basis Bitcoin now uses an estimated 62 terawatt hour of electricity. That’s the equivalent of Kuwait’s energy consumption.

Bitcoin on Twitter

Yesterday 51,139 fresh tweets about Bitcoin were sent out into the world. That’s 156.5 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:

Bitcoin's up nearly 9% over the past 24 hours https://t.co/gmUAE1FKTc pic.twitter.com/RAWtEbDuzs

— Bloomberg (@business) July 27, 2020

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

Over $70 Million In Bitcoin Shorts Liquidated As Bitcoin Approaches $11,000 from r/CryptoMarkets

And this was yesterday’s top submission on Hacker News about Bitcoin:

Why Bitcoin is not a socialist’s ally (yanisvaroufakis.eu)

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’.