$BTC Bitcoin (BTC) is the world's first and largest decentralized cryptocurrency. It was created in 2008 by an anonymous entity known as Satoshi Nakamoto and launched in 2009.
Here's a quick overview:
* What it is: Bitcoin is a digital currency that operates on a peer-to-peer network without the need for a central authority like a bank or government. It uses cryptography to secure transactions and control the creation of new units.
* How it works: Transactions are recorded on a public, distributed ledger called the blockchain. New entries are added through a process called "mining," where powerful computers solve complex mathematical problems. Miners are rewarded with Bitcoin for their efforts.
* Key features:
* Decentralized: No single entity controls Bitcoin.
* Secure: Uses strong cryptography to protect transactions.
* Transparent: All transactions are recorded on the public blockchain.
* Limited supply: There will only ever be 21 million Bitcoins, making it a scarce asset.
* Use cases: While initially designed as a peer-to-peer payment method, Bitcoin is now largely seen as a store of value, often referred to as "digital gold." It can be bought, sold, and traded on cryptocurrency exchanges, and some businesses accept it as payment.
Current Price (as of June 21, 2025):
* 1 Bitcoin (BTC) is approximately $103,911 USD (or 29,338,234.20 Pakistani Rupee).
Recent News and Market Trends:
* Strong institutional demand: US-listed Bitcoin ETFs have seen significant net inflows, indicating a growing appetite from institutional investors.
* Derivatives market caution: Despite strong ETF inflows, Bitcoin futures premiums have fallen to a three-month low, suggesting some caution among derivatives traders. Options metrics also show a bearish sentiment.
* Price volatility: Bitcoin remains highly volatile, with prices often moving significantly within short periods.
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