Satoshi Nakaboto: ‘Bitcoin plummets almost $700 in an hour, back below $10K’

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 Stephen Hawking used to say: To infinity, and beyond!

Bitcoin price

We closed the day, June 02 2020, at a price of $ 9,529. That’s a worrying 6.23 percent decline in 24 hours, or -$ 633.17. It was the lowest closing price in one day.

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 $ 175,277,218,229. It now commands 66 percent of the total crypto market.

Bitcoin volume

Yesterday’s volume of $ 39,137,252,109 was the highest in eleven days, 70 percent above last year’s average, and 47 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 709 tons of gold.

Bitcoin transactions

A total of 303,985 transactions were conducted yesterday, which is 4 percent below last year’s average and 32 percent below last year’s high.

Bitcoin transaction fee

Yesterday’s average transaction fee concerned $ 1.59. That’s $ 2.32 below last year’s high of $ 3.91.

Bitcoin distribution by address

As of now, there are 13,366 Bitcoin millionaires, or addresses containing more than $ 1 million worth of Bitcoin.

Furthermore, the top 10 Bitcoin addresses house 5.2 percent of the total supply, the top 100 14.8 percent, and the top 1000 35.1 percent.

Company with a market cap closest to Bitcoin

With a market capitalization of $ 176 billion, Chevron 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 97.1 percent behind being on track. Bitcoin’s price should have been $ 359,224 by now, according to

Bitcoin energy consumption

Bitcoin used an estimated 158 million kilowatt hour of electricity yesterday. On a yearly basis that would amount to 58 terawatt hour. That’s the equivalent of Bangladesh’s energy consumption or 5.3 million US households. Bitcoin’s energy consumption now represents 0.26% of the whole world’s electricity use.

Bitcoin on Twitter

Yesterday 48,257 fresh tweets about Bitcoin were sent out into the world. That’s 149.1 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:

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

Coinbases yet again crashes when Bitcoin reaches $ 10k – sparks many questions from r/CryptoMarkets

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

Bitcoin Mining’s Three Body Problem (


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 June 3, 2020 — 08:30 UTC

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