$BTC BTC is the abbreviation for Bitcoin. It is a decentralized digital currency and payment system created by Satoshi Nakamoto in 2009. Here is a detailed introduction:

• Technical Principle: Bitcoin is based on blockchain technology, uses the SHA-256 algorithm, and follows the PoW (Proof of Work) consensus mechanism. It relies on a distributed database composed of numerous nodes in a P2P network to confirm and record transactions, ensuring transaction security through cryptography.

• Issuance Mechanism: Bitcoin does not have a specific issuing authority and is generated through "mining." Its total supply is limited to 21 million coins, and as the mining process continues, the block reward is halved, with an expected complete issuance by the year 2140.

• Characteristics: It has features such as decentralization, scarcity, and anonymity. It does not rely on a central bank or a single administrator, allowing for instant payments worldwide, with transaction records on the blockchain being transparent and immutable.

• Price and Market: The price of Bitcoin is highly volatile. As of February 12, 2025, its price is approximately $105,941.49 per coin, with a market value of $2.1057 trillion and a circulating supply of 19.88 million coins. On June 6, there was a price drop, falling below $101,000 per coin, with an intraday decline of 3.55%.

• Application Scenarios: It can be used for peer-to-peer electronic transactions, purchasing goods or services, and can also serve as an investment target, being seen by some as a means of value storage, similar to "digital gold."

However, the legality of Bitcoin transactions varies across different countries and regions. In China, in 2013, five ministries jointly issued a notice clarifying that Bitcoin is a virtual commodity, prohibiting financial institutions from intervening, but ordinary citizens can participate in transactions at their own risk.