Bitcoin (BTC) is the first and most recognized cryptocurrency, launched in 2009 by an unknown individual or group under the alias Satoshi Nakamoto. Below is an overview of its key elements:

1. Bitcoin Fundamentals

Decentralized: Operates without control from any central authority like a government or bank.

Blockchain-Based: Transactions are logged on a transparent, cryptographically secured public ledger.

Finite Supply: Capped at 21 million BTC, with approximately 19.7 million mined as of 2024.

2. How It Functions

Mining: New bitcoins are generated through mining—solving complex algorithms with powerful computers to validate transactions.

Peer-to-Peer Transactions: Conducted directly between users, verified by miners, and are permanent once confirmed.

Wallets: BTC is stored in digital wallets—hot wallets (connected to the internet) and cold wallets (offline storage).

3. Notable Characteristics

Scarcity: Its fixed supply makes it inherently deflationary, in contrast to traditional fiat currencies.

Transparency: While all transactions are publicly visible, user identities remain pseudonymous.

Volatility: Bitcoin’s value often experiences significant fluctuations due to speculation, adoption trends, and broader economic conditions.

Price Evolution

2009: Valued at just a few cents.

2017: Surged to nearly $20,000 during its first major bull run.

2021: Hit an all-time high of around $69,000, fueled by institutional interest.

2024: Continues to fluctuate, influenced by market dynamics.#$BTC