Chart of the Day
Jackpot! Amid Bitcoin’s massive price correction, Bitcoin miner incomes denominated in USD have hit an all-time high. The miner revenue is observed to achieve incremental growth notwithstanding the third halving in May 2020.
Since the costs of mining are generally denominated in fiat currency, the increasing miner revenue in USD is instrumental in guaranteeing the continued security and longevity of the Bitcoin protocol.
Talk of the Town
What’s in a name? A lot, apparently. Elon Musk, the CEO of Tesla, has recently self-coronated through an SEC filing and should henceforth be known as the Technoking of Tesla, the First of his Name, and possibly in the near future, Unitor of the Earthlings and the Martians. Chief Financial Officer Zach Kirkhorn is now to be known as ‘Master of Coin’. Perhaps, the reversion to archaic titles, with modern allegory, offers more than just ‘amusing distractions’. Meanwhile, Tesla’s stock climbed 2% before the market closed on Wall Street, giving the company a market value of $679 billion.