According to Charles Edwards, founder of Capriole Investments, the energy value of Bitcoin has reached $130,000 since the April 2024 halving event, and the price of Bitcoin is now 60% off its energy value (40% lower). "Energy Value" is a model designed to measure the "fair value" of Bitcoin as a function of the amount of energy used by miners and machines around the world to produce Bitcoin.
CryptoQuant data shows that more than 8,756 bitcoins (worth about $830 million at the market price at the time) were transferred out of the Coinbase exchange on April 24. Binance also saw an outflow of 27,750 bitcoins on April 25, which Alphractal founder Joao Wedson pointed out was "the third largest bitcoin outflow event in the history of the exchange".
Bitcoin's spot value is 40% lower than its energy value.
2025-04-28 01:27:15
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