- Binance CEO Changpeng Zhao (CZ) hails Bitcoin’s financial mannequin because the “best enterprise mannequin ever invented.”
- Bitcoin miners achieved a record-high each day income of over $44 million on November 12.
- Between April 2022 and November 2023, miner income declined.
Binance CEO Changpeng Zhao praised Bitcoin’s financial mannequin because the “best enterprise mannequin ever invented” in response to knowledge displaying mining revenues hit new highs.
Zhao, identified extensively as CZ, made the feedback after stories emerged that Bitcoin miners generated over $44 million in block rewards and charges on November 12. This marked the highest-ever each day income for miners within the final 12 months, surpassing ranges final seen in April 2022.
The mining earnings primarily stems from the 6.25 BTC reward for efficiently mining a block, coupled with transaction charges. Nevertheless, miner income dropped between April 2022 and August 2023.
The current mining income file prompted Zhao to applaud Bitcoin’s financial design on Twitter. Zhao stated,
The quantity of worth created, to the creator (though I assume he would by no means transfer/use these cash), to the miners, to different trade members, and to holders.
Zhao shared his assumption, stating that Bitcoin’s pseudonymous creator, Satoshi Nakamoto, would by no means transfer or use these cash. Both approach, CZ believes Bitcoin’s issuance mannequin has spawned monumental worth for miners and holders.
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