Bitcoin hits US $10,000!

Bitcoin hits US $10,000! Congratulations bitcoin, beating an ounce of gold to the fabled $10k mark.

And three days later (today) it hit US$10,000.

Only tulips rose faster and further:

The problem with bitcoin is that while adoption is surging, it is still amongst a tiny section of the population – primarily the tech community and millennials. There are varied estimates but is believed that some 0.01% of the world’s population holds a bitcoin wallet (not even bitcoin as many have wallets and accounts but have not bought).

Fresh people and fresh money are moving in fast:

Data compiled by Alistair Milne, the Monaco-based manager of the Altana Digital Currency Fund, showed US bitcoin wallet provider Coinbase added 300,000 users between Wednesday and Sunday, during the US Thanksgiving holiday. The total number of Coinbase users globally now stands at 13.3 million.

Energy use is crazy — wait ’til the Greens hear about this:

While Bitcoin Mining is only currently consuming 0.13% of the world’s electricity output, it’s growing incredibly quickly. …

On current growth rates, Bitcoin will consume 100% of the world’s electricity by 2020.