Bitcoin was created in 2008 by an unknown person or a group of people using the name Satoshi Nakamoto.
The currency was designed to be an electronic peer-to-peer cash system, but it has also piqued the interest of crypto-curious investors as a store-of-value currency comparable to gold.
When Satoshi Nakamoto mined the bitcoin genesis block (the first block on the Bitcoin blockchain), 50 BTC entered circulation at a cost of $0.00.
then early adopters began trading in the digital currency a year later, it was worth a fraction of a cent. For the first time, the cryptocurrency reached the $1 mark in 2011.
Bitcoin price chart
How bitcoin works?
Bitcoin is the world’s first completely open payment network, and anyone with an internet connection can join.
Was created for use on the internet and does not rely on banks or private companies to process transactions.
The most important aspects of bitcoin is the blockchain, differs from a bank’s ledger in that it is decentralized, which means that anyone can access it and no single entity controls it.
how bitcoin blockchain works?
Over the past 12 years, Bitcoin has gone through multiple price cycles, recovering each time to reach new highs.
Bitcoin has ranged between $39,000 and $50,000 in the days since nearly reaching $53,000 on December 27. Last week, it was between $40,000 and $48,000. And drop below $40,000 this week is the lowest it has been since last summer.
Is bitcoin a solid investment?
Because Bitcoin is the largest cryptocurrency by market cap, and the rest of the market tends to follow its trends, it is a good indicator of the crypto market in general. Bitcoin’s price had a wild ride in 2021, reaching a new all-time high of over $68,000 in November.
Bitcoin is the least volatile and most stable digital currency in terms of investing.
What makes bitcoin valuable?
The scarcity of Bitcoin is its primary source of value. people are holding 12.5 million Bitcoins out of the 18.5 million in circulation, according to the news, and most of people believe they should own Bitcoin due to its scarcity.
Best places to buy Bitcoin.