Bitcoin Price Overview
Today's Bitcoin (BTC) price is $107,103.37 USD**, with a 24-hour trading volume of **$46.81 billion. Over the past 24 hours, BTC has remained stable (±0.00%). The circulating supply is 19.89 million BTC out of a maximum supply cap of 21 million BTC.
What Is Bitcoin?
Bitcoin (BTC) is the world's first decentralized cryptocurrency, built on distributed ledger technology (blockchain) using a proof-of-work (PoW) consensus mechanism. Created by the pseudonymous Satoshi Nakamoto, its whitepaper was published on October 31, 2008. As the largest cryptocurrency by market capitalization, Bitcoin has maintained dominance for over a decade.
👉 Learn how to buy Bitcoin securely
Brief History of Bitcoin
- January 3, 2009: Nakamoto mined the first Bitcoin block (Genesis Block).
- July 2010: The first Bitcoin trading market emerged, with prices ranging from $0.0008 to $0.08.
- 2011: Nakamoto transferred network control to developer Gavin Andresen.
Over the past decade, Bitcoin has evolved into a mainstream digital asset, adopted by individuals, corporations, and even nations as a store of value or payment method.
How Bitcoin Works
Bitcoin operates via:
- Public Ledger (Blockchain): Records all transactions transparently.
- Proof-of-Work (PoW): Miners validate transactions by solving complex puzzles, earning BTC rewards.
- Decentralization: No central authority governs the network.
Key aspects:
- Peer-to-peer electronic cash system
- Fixed supply (21 million BTC)
- Pseudonymous transactions
👉 Explore Bitcoin mining mechanics
Use Cases for Bitcoin
- Digital Payments: Peer-to-peer transactions without intermediaries.
- Store of Value: Often called "digital gold" due to scarcity.
- Trading/Investment: Traded on exchanges as a volatile asset class.
Example: Companies like Microsoft and Overstock accept BTC for services.
Frequently Asked Questions (FAQs)
What determines Bitcoin's price?
Bitcoin's price is influenced by supply-demand dynamics, adoption rates, regulatory news, macroeconomic trends, and institutional investment activity.
How do I convert Bitcoin to cash?
Use cryptocurrency exchanges like OKX or Coinbase to sell BTC for fiat currency, then withdraw to your bank account.
Is Bitcoin legal?
Bitcoin is legal in most countries, though regulations vary. Some nations restrict or ban its use—always check local laws.
What's the difference between Bitcoin and Ethereum?
While both are cryptocurrencies, Ethereum supports smart contracts and decentralized apps (dApps), whereas Bitcoin focuses primarily on being digital money.
Can Bitcoin be hacked?
Bitcoin's blockchain has never been hacked, but exchanges or wallets may be vulnerable. Use hardware wallets for maximum security.
Why is Bitcoin supply limited to 21 million?
This cap was programmed by Satoshi Nakamoto to mimic scarce commodities like gold, preventing inflation through unlimited issuance.
Data and adoption trends updated for 2024. For real-time BTC prices, visit reputable tracking platforms.
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