Understanding Bitcoin: The Digital Gold of the 21st Century
Bitcoin (BTC) is a decentralized digital currency that was invented in 2008 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto. It was released as open-source software in 2009, and since then, it has grown into the most recognized and valuable cryptocurrency in the world.
Understanding Bitcoin: The Digital Gold of the 21st Century
Bitcoin (BTC) is a decentralized digital currency that was invented in 2008 by an anonymous person or group of people using the pseudonym Satoshi Nakamoto. It was released as open-source software in 2009, and since then, it has grown into the most recognized and valuable cryptocurrency in the world.
$BTC
Unlike traditional currencies issued by governments (also called fiat currencies)
, Bitcoin operates on a peer-to-peer network without a central authority. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called the blockchain.One of Bitcoin’s most revolutionary features is its limited supply. There will only ever be 21 million BTC, which makes it resistant to inflation — similar to gold, hence it is often referred to as "digital gold."
Investment: Many see it as a store of value or "digital asset."
Transactions: It allows for fast, low-fee international transfers.
Hedge against inflation: Especially in countries with unstable currencies.However, it is not without risks. Bitcoin’s price is highly volatile, it is sometimes used for illicit activities due to its anonymity, and it faces regulatory scrutiny in many countries.