$BTC BTC refers to Bitcoin, the world's first and most well-known cryptocurrency. Here's a breakdown of what that entails:

What is Bitcoin (BTC)?

Decentralized Digital Currency: Bitcoin is a digital asset designed to work as money without the control of a central bank, government, or single administrator. It operates on a peer-to-peer network, allowing users to send and receive transactions directly.

Blockchain Technology: Bitcoin is built on a technology called blockchain. This is a public, distributed ledger that records all Bitcoin transactions in a secure and transparent manner. Each "block" contains a record of transactions, and once a block is added to the chain, it's virtually impossible to alter.

Mining: New Bitcoins are "mined" through a process called proof-of-work. Powerful computers (miners) compete to solve complex mathematical problems. The first to solve it gets to add a new block to the blockchain and is rewarded with newly minted Bitcoins and transaction fees.

Limited Supply: A key feature of Bitcoin is its finite supply. Only 21 million Bitcoins will ever be created, which contributes to its "digital gold" narrative and scarcity.

Pseudonymous: While all transactions are public on the blockchain, the identities of the participants are not directly revealed. Instead, transactions are linked to cryptographic addresses.

Current Status and Market:

As of June 16, 2025, Bitcoin's price is around $105,717.25 USD. Its market capitalization is approximately $2.10 trillion USD, making it the largest cryptocurrency by market cap.

Bitcoin's price is known for its volatility, influenced by factors such as:

Supply and Demand: The limited supply and growing demand from retail and institutional investors.

Regulatory Developments: News and changes in cryptocurrency regulations around the world.

Macroeconomic Factors: Global economic conditions, inflation concerns, and interest rates.

Technological Advancements: Developments within the Bitcoin network or competing cryptocurrencies.

Market Sentiment: Investor confidence and speculation.

Uses of Bitcoin: