Bitcoin (BTC) is a decentralized cryptocurrency, meaning it operates without a central bank or single administrator. It was created by an unknown person or group of people under the pseudonym Satoshi Nakamoto and launched in 2009.
Key aspects of Bitcoin:
* Decentralization: Bitcoin's network is distributed across many computers, making it resistant to censorship and single points of failure.
* Blockchain Technology: Transactions are recorded on a public, distributed ledger called the blockchain. This ledger is secured using cryptography.
* Limited Supply: The total supply of Bitcoin is capped at 21 million coins, which contributes to its scarcity.
# Mining: New Bitcoins are created through a process called mining, where powerful computers solve complex mathematical problems to validate and add new blocks of transactions to the blockchain.
#Store of Value and Medium of Exchange: While initially intended as a peer-to-peer electronic cash system, Bitcoin is now largely considered a store of value, similar to gold, and is also used for transactions.
Current Status (as of Saturday, April 26, 2025):
#Price: The current price of Bitcoin is around ₹8,101,435.46 (approximately $94,204 - $94,330 USD).
#Market Capitalization: Bitcoin's market capitalization is approximately $1.87 Trillion USD, remaining the largest cryptocurrency by market cap. The global cryptocurrency market cap is around $3.05 - $3.06 Trillion USD.
#Recent Performance: Bitcoin has shown a positive trend over the past week, with a price increase of over 11%.
History of Bitcoin:
#The concept of Bitcoin was introduced in a white paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System" published in October 2008 by Satoshi Nakamoto.
# The Bitcoin network came into existence on January 3, 2009, when Nakamoto mined the first block, known as the genesis block.
*#The first Bitcoin transaction occurred on January 12, 2009, between Satoshi Nakamoto and Hal Finney.
$Bitcoin's price started to gain traction in 2010, moving from below $0.10 to $0.30 by the end of the year.
# It experienced significant price volatility and growth over the years, reaching all-time highs in 2021.
Factors Influencing Bitcoin's Price:
# Supply and Demand: The limited supply and increasing demand can drive the price up.
#Market Sentiment: Positive or negative news and public perception can significantly impact the price.
# Institutional Adoption: Increased interest and investment from institutions can lead to price appreciation.
#Regulatory Landscape: Government regulations and policies can have a substantial impact on Bitcoin's price and adoption.
#Technological Developments: Upgrades and advancements in the Bitcoin network can influence its value.
#Macroeconomic Factors: Economic conditions like inflation and interest rates can affect investor sentiment towards Bitcoin.
Bitcoin remains a significant and influential asset in the cryptocurrency market, known for its volatility and potential for both high returns and substantial risks