$BTC
** is the ticker symbol for **Bitcoin**, the first and most well-known cryptocurrency. Here's a quick overview:
- **What is Bitcoin?**: A decentralized digital currency created in 2009 by an anonymous entity known as Satoshi Nakamoto. It operates on a blockchain, a public ledger that records all transactions.
- **Key Features**:
- **Decentralization**: No central authority controls Bitcoin.
- **Limited Supply**: Only 21 million Bitcoins will ever exist, making it deflationary.
- **Volatility**: Bitcoin's price is highly volatile, influenced by market demand, adoption, and macroeconomic factors.
- **Use Cases**:
- Store of value (often called "digital gold").
- Medium of exchange (used for payments and remittances).
- Hedge against inflation or fiat currency devaluation.
- **Current Trends (as of 2024)**:
- Institutional adoption (e.g., companies adding Bitcoin to their balance sheets).
- Regulatory developments impacting its price and usage.
- Technological advancements like the Lightning Network for faster transactions.