Charles Edwards from Capriole Investments is out here basically saying Bitcoin is shopping on Black Friday—still 40% off compared to what its “Energy Value” thinks it should cost. Spoiler alert: this ain’t your average clearance sale.
Bitcoin’s Energy Value: Somewhere Around $130,000 and Climbing (Because Why Not?)
In a recent tweetstorm on X (formerly Twitter, formerly That Place for Memes), Edwards spilled the tea on Bitcoin’s “Energy Value.” It’s a fancy model that numbers nerds use to figure out BTC’s “fair value” by calculating how much power all those miners are burning through while chase-mining precious coins. Yes, Bitcoin is basically the planet’s biggest electricity junkie.
Miners don’t just stare at screens waiting for magic; they have to solve puzzles to add blocks to the chain, and when they do, they score a block subsidy—basically, Uncle Sam throwing them a crypto bone. The rate miners crank these blocks out mostly holds steady, thanks to the “Difficulty” setting, but there’s a curveball every four years called the Halving—where miners get paid half the BTC per block. Frowny face.
What does this mean for energy? Well, since those rewards shrink, miners gotta throw more juice at the process per coin. Edwards’ formula divides the miners’ total energy input by the cryptocurrency’s growth rate and then converts that power usage into cold, hard USD. Imagine trying to explain that at a dinner party.
Here’s the magic equation Edwards whipped up (grab a coffee, you’ll need it):
Fun fact: If miners get smarter and switch to energy-efficient rigs, Bitcoin’s theoretical price dips—because less energy means less “fair value.” But miners aren’t exactly downsizing. Nope, they’re just power-binging with more machines, effectively turning the energy dial up to 11.
Check out this snapshot of Bitcoin’s Energy Value as Edwards presented it:
Right now, the Energy Value is hanging at around $130,000. The kicker? Bitcoin’s street price is waddling in way below that. Historically, whenever Bitcoin’s price dipped beneath this energy-informed line, it bounced back up like your phone battery after 10 minutes of charging. But this time? The bounce isn’t sticking—it’s more like a sad attempt at a trampoline act.
Keep in mind, it’s been a whole year since the last Halving, the fourth in Bitcoin’s saga, where the digital pie gets cut even smaller and miners have to pay more juice per slice. So, will Bitcoin finally play nice and start gravitating toward its Energy Value? Or is this just another episode of “Crypto: Expect the Unexpected”?
BTC Price Quickie
In the latest episode of “Bitcoin Price Drama,” BTC dipped below $92,000 briefly, like a kid sneaking a cookie before dinner. But, surprise! The bulls strutted back in, pushing the price back to around $94,400—because where else would Bitcoin rather be than on a rollercoaster?
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2025-04-26 13:16