#AbuDhabiStablecoin Bitcoin is the first decentralized cryptocurrency. Based on a free-market ideology, the bitcoin white paper was published in 2008 by an unknown entity under the pseudonym of Satoshi Nakamoto. Use of bitcoin as a currency began in 2009, with the release of its open-source implementation.

Bitcoin is one of the most well-known virtual currencies today, with its value rising dramatically since its launch in 2009. Satoshi Nakamoto, the pseudonym of Bitcoin's creator, stated the purpose of Bitcoin is as an electronic payment system that is based on cryptographic proof, instead of trust.