#BitcoinPolicyShift Bitcoin is digital money that can be sent directly from person-to-person, secured by encryption. Each transaction is recorded in blocks according to time; the blocks are linked together in a digital chain that forms a permanent ledger (the “blockchain”). Bitcoin is not backed by any government or commodity; its value is determined by daily fluctuation of supply and demand. An anonymous person launched Bitcoin in 2008, building on prior cryptocurrency concepts, and innovating the blockchain. The goal was to allow direct cash-like payments, without fees from a third party. Many cryptocurrencies exist now, but Bitcoin has the largest market value.