BTC is an acronym for Bitcoin, a digital currency that was created in 2009 by an unknown person or group of individuals using the pseudonym Satoshi Nakamoto. Bitcoin operates on a decentralized peer-to-peer network known as the blockchain, which enables users to transact directly with one another without the need for intermediaries like banks.
BTC refers specifically to the currency code or symbol for Bitcoin, similar to how USD represents the United States Dollar. It is the most widely recognized and commonly used symbol for Bitcoin across various exchanges, wallets, and financial platforms.
Bitcoin is the first and most prominent cryptocurrency, revolutionizing the concept of digital money. It utilizes cryptographic techniques to secure transactions and control the creation of new units. The total supply of Bitcoin is limited to 21 million coins, making it a finite and deflationary asset.
As a digital currency, BTC can be used for various purposes, including online purchases, transfers, and investments. Bitcoin's decentralized nature and the absence of a central authority make it resistant to censorship and government control, offering users financial sovereignty and privacy. BTC transactions are recorded on the blockchain, making them transparent and immutable.
The value of BTC is highly volatile, subject to fluctuations due to market demand and supply dynamics. Bitcoin has gained significant attention from investors and individuals seeking an alternative store of value, with some considering it as a hedge against traditional financial systems and inflation.
