Bitcoin is a decentralized digital currency, often referred to as a cryptocurrency, that was created in 2009 by an anonymous individual or group of individuals using the pseudonym Satoshi Nakamoto. It is based on a decentralized ledger technology called the blockchain, which maintains a continuously growing list of records called blocks that are linked and secured using cryptography.
Bitcoin allows for peer-to-peer transactions without the need for intermediaries like banks or other financial institutions. Transactions are verified and recorded on the blockchain, which enables transparency and immutability of the transactions.
The supply of Bitcoin is limited to 21 million coins, with approximately 18.7 million already in circulation as of 2023. Bitcoin can be acquired through mining, where individuals or groups of individuals compete to solve complex mathematical problems to earn new bitcoins, or by buying and selling on cryptocurrency exchanges.
Bitcoin has gained popularity as a digital asset and a store of value, with its price experiencing significant fluctuations over time. It has also been used as a means of payment in certain circumstances, although its adoption as a widely accepted form of payment remains limited.
