Binance CEO Changpeng Zhao has referred to Bitcoin’s economic model as the “greatest business model ever invented in our world.” He made this comment in response to data indicating that mining revenues have reached new highs.
Currently, mining revenue is determined by a reward of 6.25 BTC for successfully mining a block, along with transaction fees. According to reports, on November 12th, Bitcoin miners earned over $44 million in rewards and transaction fees. This marks the highest daily income for miners in the past year, surpassing the record set in April 2022.
This achievement prompted Zhao to marvel at the economic design of Bitcoin:
“The amount of value created by the creator (though I assume he will never move/use these coins), passed on to miners, other industry participants, and owners.”
Please note that my knowledge is based on information available up to January 2022, and there may have been developments or changes since then.
