Bitcoin, the original cryptocurrency, is primarily regarded as a digital alternative to both gold and fiat currency. This is because, like traditional money, Bitcoin can be used for financial transactions, and like gold, Bitcoin is a scarce resource that is difficult and costly to ‘mine,’ making it a great store of value, especially when compared to fiat currencies and processes such as quantitative easing.
As the world’s leading cryptocurrency and a highly volatile and disruptive asset, Bitcoin generates an immense amount of interest. Bitcoin often ranks as one of the most searched for terms on Google. For those looking to stay on the right side of Bitcoin’s price swings, it’s imperative that you stay up to date with the latest news and developments. You can do that here at Blokt where our professional journalists report on current market events as they happen.
Despite its similarities to cash and gold, Bitcoin also has several unique features which have helped to cement its popularity. Bitcoin runs on a decentralized global network and works in a peer-to-peer fashion, meaning it operates free from the control of any government, bank, or central authority. Therefore, Bitcoin transactions are censorship-resistant and often cheaper than traditional payments.
Bitcoin is underpinned by blockchain, and while the origins of this technology date back almost three decades ago, it was Bitcoin’s creator Satoshi Nakamoto who took it, improved it, and gave it its first real-world application. Therefore, the pseudonymous Satoshi Nakamoto, whose real identity or identities remain unknown, pathed the way for the multi-billion dollar blockchain and cryptocurrency industries we have today.
Bitcoin goes by the ticker “BTC,” and is the biggest cryptocurrency by market capitalization. BTC is listed on nearly all crypto exchanges, including Coinbase and Binance, where it can be bought, sold, and traded easily. For more information about Bitcoin, check out our guide “What is Bitcoin and How Does It Work?” or view the latest Bitcoin news below.