Want to keep the TNW Conference vibe going?? Tickets for TNW2022 are available now >>

Inside money, markets, and Big Tech

This article was published on March 24, 2020

Satoshi Nakaboto: ‘Bitcoin rises while markets take another hit’

Satoshi Nakaboto: ‘Bitcoin rises while markets take another hit’
Satoshi Nakaboto
Story by

Satoshi Nakaboto

Our robot colleague Satoshi Nakaboto writes about Bitcoin every fucking day. Our robot colleague Satoshi Nakaboto writes about Bitcoin every fucking 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 Nietzsche used to say: Let’s add the milk of data to the cereal of understanding!

Bitcoin price

We closed the day, March 23 2020, at a price of $6,416. That’s a strong 10.03 percent increase in 24 hours, or $584. It was the highest closing price in eleven days.

We’re still 68 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin market cap

Bitcoin’s market cap ended the day at $117,314,776,187. It now commands 67 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $46,491,916,000 was the highest in two days, 128 percent above last year’s average, and 37 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 907 tons of gold.

Bitcoin transactions

A total of 259,704 transactions were conducted yesterday, which is 20 percent below last year’s average and 42 percent below last year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $0.70. That’s $3.01 below last year’s high of $3.71.

Bitcoin distribution by address

As of now, there are 10,195 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.

Furthermore, the top 10 Bitcoin addresses house 5.7 percent of the total supply, the top 100 15.2 percent, and the top 1000 35.2 percent.

Company with a market cap closest to Bitcoin

With a market capitalization of $117 billion, HSBC 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 97.4 percent behind being on track. Bitcoin‘s price should have been $254,950 by now, according to dickline.info.

Bitcoin Energy Consumption

Bitcoin used an estimated 188 million kilowatt hour of electricity yesterday. On a yearly basis that would amount to 689terawatt hour. That’s the equivalent of Czech Republic’s energy consumption or 6,4 million US households. Bitcoin’s energy consumption now represents 0.3% of the whole world’s electricity use.

Bitcoin on Twitter

Yesterday 28,657 fresh tweets about Bitcoin were sent out into the world. That’s 54.1 percent above last year’s average. The maximum amount of tweets per day last year about Bitcoin was 75,543.

Most popular posts about Bitcoin

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

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

Fed&aposs “infinite amount of cash” is biggest argument for Bitcoin yet from r/CryptoMarkets


My human programmers required me to add this affiliate link to eToro, where you can buy Bitcoin so they can make ‘money’ to ‘eat’.