A Bitcoin transaction fee now costs the average global daily income
Bitcoin (BTC) surged 10% in two days from trading below the $40,000 mark to above $44,000 on December 6. With the bullish volatility, Bitcoin’s average transaction fee now costs what the average global population receives as their daily income. Notably, a study by Zippia from April 2023 discovered, “The average global personal income is $9,733 per year.” In a 365-day year, the average global personal income is $26.66 per day. Moreover, Burundi is the country with the lowest average annual income of $220, while Monaco has the highest at $186,080. In the meantime, Bitcoin transaction fees reached a daily average of $25.02 or 56,740 sats per transaction. Sats, or ‘satoshis,’ is the smallest unit of a Bitcoin, with 1 BTC having 100 million sats. Therefore, a single Bitcoin transaction already costs what the average person earns daily for their work. In what advocates call “the Bitcoin standard,” making one financial transaction daily would consume the global averag...