What is bitcoin?
Bitcoin is a digital currency that was created in 2009. It is decentralized, meaning it is not controlled by any single institution, and is instead underpinned by a network of computers around the world. Transactions are recorded on a public ledger, known as the blockchain, and the network is secured through cryptography.
One of the key features of bitcoin is that it is limited in supply. There will only ever be 21 million bitcoins in circulation, with approximately 18.7 million currently in existence. This scarcity is intended to ensure that the value of bitcoin is not diluted by excessive issuance, and to provide a built-in inflation hedge.
