Bitcoin
| Bitcoin | |
|---|---|
| |
| Commonly used logo of bitcoin | |
| Denominations | |
| Plural | Bitcoins |
| Symbol | ₿ (Unicode: U+20BF ₿ BITCOIN SIGN) |
| Code | BTC |
| Precision | 10⁻⁸ |
| Subunits |
59 Markets.com, “Crypto market analysis: What are the features of cryptocurrency?” Archived. Retrieved October 2025 |
| Development | |
| Original author | Satoshi Nakamoto |
| White paper | Bitcoin: A Peer-to-Peer Electronic Cash System |
| Implementation | Bitcoin Core |
| Initial release | 0.1.0 / 9 January 2009 (16 years ago) |
| Latest release | 30.0.0 / 11 October 2025 (34 days ago) |
| Code repository | GitHub |
| Development status | Active |
| Written in | C++ |
| Source model | Free and Open Source Software |
| License | MIT Licence |
| Ledger | |
| Ledger start | 3 January 2009 (16 years ago) |
| Timestamping scheme | Proof of work (partial hash inversion) |
| Hash function | SHA-256 (two rounds) |
| Issuance | Decentralized (block reward), Initially ₿50 per block, halved every 210,000 blocks |
| Block reward | ₿3.125 (as of 2025) |
| Block time | 10 minutes |
| Circulating supply | ₿19,934,271 (as of 14 October 2025) |
| Supply limit | ₿21,000,000 |
| Valuation | |
| Exchange rate | Floating |
| Website | bitcoin.org |
Bitcoin (abbreviation: BTC; sign: ₿ [1]) is a form of digital money [2] with no physical existence. Unlike traditional currencies, it operates without central control or banks. Transactions occur over a decentralized network [3] of thousands of interconnected computers, known as nodes.
The origins of digital money trace back to 1983, when David Chaum introduced Ecash, and later founded DigiCash in 1989.
In 2008, the pseudonymous creator Satoshi Nakamoto [4] published the white paper Bitcoin: A Peer-to-Peer Electronic Cash System [5] introducing blockchain technology and decentralization. Bitcoin’s network launched in 2009 with the mining of the first block, known as the Genesis block [6].
Important milestones include:
- The first real-world transaction on Bitcoin Pizza Day (May 22, 2010).
- Bitcoin exceeding $1 for the first time in 2011.
- Widespread recognition by 2013.
- From 2021 to 2025, Bitcoin gained greater legitimacy through actions such as SEC approval of Bitcoin ETFs, integration into PayPal, and regulatory developments in the United States [7].
Bitcoin transactions take place on a decentralized blockchain network where users transfer cryptocurrency between wallets. Transactions are verified through mining using Cryptography [8] and the proof-of-work consensus mechanism [9], ensuring transparency, security, and peer-to-peer payments without intermediaries like banks.