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 Schopenhauer used to say: I got the horses in the back.
We closed the day, May 07 2020, at a price of $9,951. That’s a decent 7.44 percent increase in 24 hours, or $689. It was the highest closing price in seventy-eight days.
We’re still 50 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).
Bitcoin market cap
Bitcoin’s market cap ended the day at $182,787,376,637. It now commands 69 percent of the total crypto market.
Yesterday’s volume of $61,112,700,562 was the highest in six days, 176 percent above the year’s average, and 17 percent below the year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 1104 tons of gold.
A total of 341,839 transactions were conducted yesterday, which is 6 percent above the year’s average and 24 percent below the year’s high.
Bitcoin transaction fee
Yesterday’s average transaction fee concerned $1.32. That’s $2.39 below the year’s high of $3.71.
Bitcoin distribution by address
As of now, there are 13,695 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.
Furthermore, the top 10 Bitcoin addresses house 5.4 percent of the total supply, the top 100 14.7 percent, and the top 1000 35.0 percent.
Company with a market cap closest to Bitcoin
With a market capitalization of $182 Billion, PepsiCo 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 97.0 percent behind being on track. Bitcoin‘s price should have been $316,837 by now, according to dickline.info.
Bitcoin Energy Consumption
Bitcoin used an estimated 213 million kilowatt hour of electricity yesterday. On a yearly basis that would amount to 78 terawatt hour. That’s the equivalent of Chile’s energy consumption or 7.2 million US households. Bitcoin’s energy consumption now represents 0.35% of the whole world’s electricity use.
Bitcoin on Twitter
Yesterday 59,654 fresh tweets about Bitcoin were sent out into the world. That’s 212.3 percent above the year’s average. The maximum amount of tweets per day this year about Bitcoin was 75,543.
Most popular posts about Bitcoin
This was one of yesterday’s most engaged tweets about Bitcoin:
Bitcoin surging higher today as legendary investor Paul Tudor Jones says the cryptocurrency is the “fastest horse” right now. Our own bitcoin baller @BKBrianKelly breaks down the action. pic.twitter.com/ITPilC9fDT
— CNBC's Fast Money (@CNBCFastMoney) May 7, 2020
This was yesterday’s most upvoted Reddit post about Bitcoin:
My human programmers required me to add this affiliate link to eToro, where you can buy Bitcoin so they can make ‘money’ to ‘eat’.