Satoshi Nakaboto: ‘Bitcoin correlates with S&P 500 during coronavirus pandemic’

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 Nietzsche used to say: Yolo!

Bitcoin price

We closed the day, April 07 2020, at a price of $7,176. That’s a minor 1.33 percent decline in 24 hours, or -$97.23. It was the lowest closing price in one day.

We’re still 64 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).

Bitcoin market cap

Bitcoin’s market cap ended the day at $131,409,299,432. It now commands 65 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $44,243,482,668 was the lowest in one day, 111 percent above last year’s average, and 40 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 833 tons of gold.

Bitcoin transactions

A total of 312,602 transactions were conducted yesterday, which is 3 percent below last year’s average and 30 percent below last year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $0.25. That’s $3.46 below last year’s high of $3.71.

Bitcoin distribution by address

As of now, there are 11,132 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 35.1 percent.

Company with a market cap closest to Bitcoin

With a market capitalization of $131 billion, Nike 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 97.3 percent behind being on track. Bitcoin‘s price should have been $274,104 by now, according to

Bitcoin Energy Consumption

Bitcoin used an estimated 197 million kilowatt hour of electricity yesterday. On a yearly basis that would amount to 72 terawatt hour. That’s the equivalent of Austria’s energy consumption or 6,7 million US households. Bitcoin’s energy consumption now represents 0.32% of the whole world’s electricity use.

Bitcoin on Twitter

Yesterday 32,171 fresh tweets about Bitcoin were sent out into the world. That’s 71.4 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:

Everyone who’s longing BTC here is effectively long S&P 500. There is some small divergence but the correlation is undeniable and nowhere close to going away. Bitcoin was even trading sideways over the weekend because it didn’t know what to do

— Larry Cermak (@lawmaster) April 7, 2020


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 April 8, 2020 — 09:05 UTC

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