#kh Bitcoin is the first decentralized digital currency. It was created in 2009 by a mysterious individual calling himself Satoshi Nakamoto. It can be sent from person to person via the Bitcoin network in a peer-to-peer manner without the need for a third party (an intermediary such as a bank). Using cryptography and recorded on a distributed ledger called the blockchain, bitcoins are created as a reward for a process known as mining.⚡
Is BTC a commodity or a currency?
Bitcoin was initially created as a means of payment, and in certain specific cases, it works exactly as intended. However, it lacks widespread adoption and currently experiences significant volatility to be considered a true alternative to fiat currency: sellers need to constantly revise their prices to cope with fluctuating movements in its value.
This means that Bitcoin is primarily used as an investment similar to gold and other precious metals, rather than as a traditional currency. Like commodities, currencies transcend the direct influence of a particular economy and are not significantly affected by changes in monetary policy.
Write in the comments what you think about the huge rise in this currency and what the market might do during this period.✨
