Bitcoin is the pioneering decentralized digital currency, operating on a peer-to-peer network without central authority. Its underlying technology, blockchain, records all transactions on a public, immutable ledger, secured by cryptography. New Bitcoins are introduced through "mining," a process where powerful computers validate transactions and add new blocks, earning rewards. Bitcoin's supply is capped at 21 million, aiming for deflationary properties.
In Bangladesh, Bitcoin's legal status is precarious. Bangladesh Bank explicitly states it's not legal tender and warns against its use, citing violations of foreign exchange, anti-money laundering, and anti-terrorism laws. While "owning" Bitcoin might exist in a gray area, transacting or facilitating its use is officially prohibited due to financial risks and concerns about illicit activities. Despite this, an informal market for Bitcoin trading persists through offshore exchanges. The government, however, is exploring the broader blockchain technology for e-governance, distinguishing it from decentralized cryptocurrencies like Bitcoin.
As of June 2025, Bitcoin's price is experiencing significant bullish sentiment. Forecasts from various analysts suggest it could range between $105,000 and $125,000 this month, with some aggressive projections reaching $150,000 to $250,000 by year-end. This optimism is fueled by factors such as institutional adoption (e.g., Bitcoin ETFs), potential Federal Reserve rate cuts, and a maturing macroeconomic environment. While short-term volatility exists, the long-term outlook for Bitcoin remains largely positive, with patterns suggesting a "pre-mania phase" that could lead to further parabolic rallies.