Bitcoin:
Bitcoin is a decentralized digital currency created in January 2009.
The identity of the person or persons who created the technology is still a mystery.
Bitcoin is known as a type of cryptocurrency because it uses cryptography to keep it secure.
There are no physical bitcoins, only balances kept on a public ledger that everyone has transparent access to (although each record is encrypted).
what makes bitcoin world's largest cryptocurrency?
Launched in 2009, Bitcoin is the world's largest cryptocurrency by market capitalization.
Unlike fiat currency, Bitcoin is created, distributed, traded, and stored with the use of a decentralized ledger system, known as a blockchain.
Bitcoin's history as a store of value has been turbulent; it has gone through several cycles of boom and bust over its relatively short lifespan.
As the earliest virtual currency to meet widespread popularity and success, Bitcoin has inspired a host of other cryptocurrencies in its wake.
Why Is Bitcoin Valuable?
Bitcoin's price has risen exponentially in just over a decade, from less than $1 in 2011 to more than $68,000 as of November 2021.
Its value is derived from several sources, including its relative scarcity, market demand, and marginal cost of production.
Thus, even though it is intangible, Bitcoin commands a high valuation, with a total market cap of $1.11 trillion as of November 2021.