Bitcoin

Bitcoin (BTC) is the world’s first decentralized cryptocurrency, introduced in 2008 by an anonymous individual or group known by the pseudonym Satoshi Nakamoto. It operates on a peer-to-peer network, allowing users to send and receive digital payments without the need for a central intermediary, such as a bank or government. At its core, Bitcoin is powered by blockchain technology, a distributed public ledger that records every transaction across a global network of computers, ensuring transparency and security through complex cryptography.

The Bitcoin system is defined by its programmed scarcity; the total supply is hard-coded to never exceed 21 million coins. New bitcoins are introduced into circulation through a process called mining, where specialized hardware solves mathematical puzzles to verify transactions and secure the network. Over time, Bitcoin has evolved from an experimental digital currency into a globally recognized financial asset, often referred to as “digital gold” due to its role as a store of value. As a tag, Bitcoin serves as the primary hub for news regarding the evolution of decentralized finance (DeFi), market trends, and the ongoing integration of digital assets into the global economy.

Quick facts about Bitcoin

Published in a 9-page whitepaper in October 2008 by the pseudonymous Satoshi Nakamoto, Bitcoin solved the decades-old digital cash problem preventing digital money from being copied and spent twice without needing a bank or central authority.
The protocol hardcodes a maximum limit of 21 million Bitcoins that can ever exist. The network controls issuance through automated "halvings" every 210,000 blocks (roughly 4 years), cutting miner rewards in half until around the year 2140.
Its consensus mechanism relies on vast computational energy: miners compete to solve cryptographic puzzles to validate transactions and add them to the immutable public ledger (the blockchain).
In May 2010, programmer Laszlo Hanyecz completed the first documented commercial transaction using Bitcoin, paying 10,000 BTC for two Papa John’s pizzas.
In September 2021, El Salvador became the first country in the world to adopt Bitcoin as legal tender alongside the U.S. dollar, requiring businesses to accept it and holding BTC on its national balance sheet.