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 Marie Curie used to say: Talk to a stranger on a bus!
Bitcoin price
We closed the day, March 02 2020, at a price of $8,869. That’s a respectable 3.57 percent increase in 24 hours, or $306. It was the highest closing price in five days.
We’re still 55 percent below Bitcoin‘s all-time high of $20,089 (December 17 2017).
Bitcoin market cap
Bitcoin’s market cap ended the day at $161,861,167,745. It now commands 64 percent of the total crypto market.
Bitcoin volume
Yesterday’s volume of $42,857,674,409 was the highest in two days, 123 percent above last year’s average, and 14 percent below last year’s high. That means that yesterday, the Bitcoin network shifted the equivalent of 835 tons of gold.
Bitcoin transactions
A total of 342,672 transactions were conducted yesterday, which is 5 percent above last year’s average and 24 percent below last year’s high.
Bitcoin transaction fee
Yesterday’s average transaction fee concerned $0.24. That’s $3.47 below last year’s high of $3.71.
Bitcoin distribution by address
As of now, there are 12,767 Bitcoin millionaires, or addresses containing more than $1 million worth of Bitcoin.
Furthermore, the top 10 Bitcoin addresses house 4,302,61 percent of the total supply, the top 100 10,939,64 percent, and the top 1000 25,358,71 percent.
Company with a market cap closest to Bitcoin
With a market capitalization of $162 Billion, Boeing 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 96.1 percent behind being on track. Bitcoin‘s price should have been $230,362 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 25,876 fresh tweets about Bitcoin were sent out into the world. That’s 40.0 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:
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’.
What downtime? Robinhood fund raise to reportedly boost its valuation to $8B
Robinhood, the popular trading app, is close to securing additional funding that will see it valued at around $8 billion , reports Bloomberg citing people familiar with the deal.
The Menlo Park-based startup behind the app is said to soon raise around $250 million, led by seminal VC fund Sequoia Capital, a returning investor.
Robinhood‘s revenue has seen record growth during the coronavirus pandemic, reportedly around $60 million in March . The increased market volatility has led to new accounts, said Bloomberg’s sources.
Robinhood users are still salty about that downtime
However, the app has suffered a slew of sudden service interruptions over the past few months, leaving many traders to miss potential gains.
The worst was March 2, when an influx of user activity sent the app offline for a full day of US trade — the same day that the overall market gained $1.1 trillion, and the Dow gained its most points in a single day ever.
Hard Fork previously reported that Robinhood promised discounts on its monthly membership subscription to affected users, which TechCrunch figured out was worth a measly $15.
We later learned that Robinhood had maxed out credit lines worth $200 million during the increased volatility. The startup later claimed those loans were not made in response to its system failures.
Instances of Robinhood compensating users for $75 over the downtime have since surfaced, but those who accept reportedly must agree not to sue the company .
What Robinhood plans to do with the extra cash isn’t yet clear, as both it and Sequoia have so far chosen to remain silent over the deal.
Still, its most-recent loan will boost its valuation, from $7.6 billion to $8 billion — a sign of health that’s fast become rare for startups in our coronavirus-plagued economy.
Xilinx stock pumps 17% on reports that AMD will buy it for $30B
Xilinx stock jumped 17% during Friday’s pre-market trade on news that AMD could soon acquire the San Jose-headquartered chip maker for $30 billion.
The deal would see AMD posture to truly rival computing giant Intel , and the Wall Street Journal reports it could be finalized as soon as next week after citing sources familiar with the matter.
Until now, XLNX had returned just 5% in 2020 (just a touch more than the S&P 500). AMD stock, on the other hand, fell 4% — but it’s still up more than 70% year-to-date.
XLNX‘s gains can be attributed to speculation that the reported $30 billion acquisition figure would eventually become its market value.
The market valued XLNX at $25.89 billion at Thursday’s close, and a 17% increase in share price boosts that number beyond $32 billion. This aligns more with AMD’s reported $30 billion-plus bid for XLNX.
Whether XLNX‘s pre-market gains hang around once the day’s regular trade opens is another story, however.
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As noted by WSJ, the deal would be 2020’s second largest acquisition, after NVIDIA‘s $40 billion purchase of UK-headquartered Arm Holdings, and before Analog Devices $20 billion deal with Maxim Integrated Products — capping off a what’s already a big year for semiconductor buyouts.
