Bitcoin was created in 2009 by an anonymous person or group of people under a pseudonym Satoshi Nakamoto.
Bitcoin (BTC) Crypto Exchange
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BTC Market Data
Bitcoin market info: BTC price today, market cap, and supply
Bitcoin Price is $80,861.3116. Its current circulating supply is btc 19,849,581 with a market cap of $1,605,063,153,845.26.
PRICE
$ 80,861.3116
MARKET CAP
$ 1,605,063,153,845.26
24h % PRICE
-1.01 %
24H VOLUME
$ 44,067,896,162.76
7d % PRICE
-2.13 %
COIN SUPPLY
19,849,581 BTC
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What is Bitcoin (BTC)
In 2008, on October 31, a person or a group of people called Satoshi Nakamoto published the Bitcoin whitepaper that was originally started in 2006. Even though attempts to create a digital currency have been made before, October 31 has become a starting point for the entire blockchain and cryptocurrency world.
Bitcoin (or BTC) is a digital currency, based on the form of distributed ledger technology – blockchain. Its major advantage is that information about all transactions is stored in an unchangeable encrypted ledger, that is accessible to everyone. The system is transparent and anyone can check the transaction history, while no one could ever falsify these records. Thousands of merchants now accept BTC as a payment method, starting with Microsoft and ending with Subway. There are plenty of advantages of using Bitcoin, however, there are many cons too. That’s why after Bitcoin an incalculable number of alternatives were proposed by cryptocurrency enthusiasts.
The Bitcoin network has a finite maximum supply of BTC 21 million, which approximately will be fully mined sometime around 2140. The said finite supply makes BTC more appealing to investors.
Bitcoin (BTC) FAQ
No asset backs Bitcoin, just like most fiat currencies aren’t backed by any asset since the gold standard has been abandoned. However, Bitcoin’s value is also not controlled by a bank or any other central authority, making its network decentralized. It is worth noting that some crypto assets are backed by fiat currencies, such as stablecoins.
Bitcoin blockchain utilises the Proof-of-Work consensus mechanism, meaning that users are able to mine BTC tokens. That is done by solving complex computational math problems with the help of sophisticated hardware.
Bitcoin works using blockchain technology, where transactions are verified and recorded on a public ledger. When you send Bitcoin to someone, the transaction is confirmed by a network of computers, known as miners, who validate and secure the transaction. Bitcoin transactions are decentralized, meaning there’s no need for banks or intermediaries, and they’re irreversible once confirmed.
Bitcoin is often considered a store of value and a hedge against inflation due to its fixed supply of 21 million coins. Many investors see Bitcoin as a long-term investment, and some even compare it to digital gold. However, Bitcoin’s price is highly volatile, and it’s crucial to do thorough research (DYOR) before investing. Always remember to only invest what you can afford to lose.
