Bitcoin (BTC) is a decentralized digital asset introduced in 2008 by an anonymous creator or group known as Satoshi Nakamoto. It became operational in January 2009, with the goal of allowing individuals to exchange value directly without relying on intermediaries. Bitcoin operates on a peer-to-peer network, with transactions recorded transparently on a distributed ledger called the blockchain. Its supply is capped at 21 million BTC, and it can be divided into smaller units called satoshis (0.00000001 BTC), making it adaptable for various uses.

Bitcoin relies on the blockchain, a distributed system that tracks and validates every transaction made using the asset. Unlike centralized systems, the blockchain is maintained across a global network of participants. New entries on the blockchain are added through a process called mining, which involves solving complex computational problems. Miners who successfully validate these blocks are rewarded with Bitcoin. The system allows anyone with access to the internet to send, receive, and store Bitcoin using cryptographic keys for enhanced privacy and control.

Bitcoin is frequently compared to other physical stores of value, with the added functionality of being transferable in digital form. It is commonly used as a medium of exchange, a digital representation of ownership, or a unit of account. These attributes make Bitcoin applicable in a variety of scenarios, including facilitating transactions and serving as a tool for long-term value storage.

Bitcoin was introduced in 2009, marking a new approach to decentralized systems. The first block, called the genesis block, was mined by its creator, Satoshi Nakamoto. This was followed by the first recorded transaction in 2010, when 10,000 BTC were exchanged for two pizzas. Known as "Bitcoin Pizza Day," this event underscores the asset’s practical use over time. Since its inception, Bitcoin has undergone ongoing improvements by contributors to its open-source software, ensuring the system evolves to meet the needs of its global user base. The identity of Nakamoto remains unknown, emphasizing Bitcoin's decentralized principles. Over the years, BTC has had a dynamic price history, with its price today reflecting ongoing developments and market demand. At times, BTC’s live price has seen notable spikes, reaching an all-time high in November 2024 when its value soared above $99,800. The price now varies as it responds to market trends, technological progress, and adoption rates.

By creating an account on Coinbase or an increasing number of other reputable financial technology companies, you can buy, send, and receive Bitcoin. These platforms allow you to purchase Bitcoin easily while also providing tools to check its price today and track its live price. Whether you’re curious about Bitcoin's price now or comparing it to its all-time high, these services help you stay updated on Bitcoin's worth at all time.

Bitcoin mining is the process of adding new entries to the blockchain by verifying and recording transactions. Specialized hardware solves mathematical problems to validate these entries, with successful participants rewarded in Bitcoin. In its early stages, mining could be performed using standard computers, but as the system has grown, the requirements for participation have increased. Today, mining typically involves highly specialized systems. Mining operations are distributed globally, with some regions contributing a larger share of the computational effort than others. As the total supply of Bitcoin is limited, mining will eventually conclude, enhancing its finite nature.

Bitcoin was introduced in 2008 by an individual or group using the pseudonym Satoshi Nakamoto. Nakamoto's whitepaper outlined a peer-to-peer electronic cash system that would operate without reliance on centralized authorities. Despite numerous attempts to uncover Nakamoto's true identity, it remains a mystery, emphasizing the decentralized and community-driven ethos of Bitcoin. Nakamoto is estimated to hold around 1 million BTC, but their identity has not been revealed, which further reinforces Bitcoin’s unique narrative in the financial world.

Bitcoin's price is known for its sharp and frequent fluctuations due to a combination of factors. Speculative trading drives much of the volatility, as traders respond to news, adoption trends, and market sentiment. Additionally, the relatively limited market size of Bitcoin compared to traditional financial assets means that even moderate buying or selling activity can cause significant price swings. Regulatory developments and technological upgrades to the Bitcoin network also contribute to periods of volatility. These elements combine to create a dynamic market where the price today can differ significantly from the price now or even a few hours later.

The amount of Bitcoin you can acquire for $1 depends entirely on its live price at the time of purchase. For example, if the Bitcoin price at that time is $10,000, $1 would get you 0.0001 BTC. However, because Bitcoin’s price is highly volatile, this calculation can shift rapidly. Checking the Bitcoin price today and tracking its movements is essential for understanding how much Bitcoin your $1 will buy at any given time.

In 2009, Bitcoin had virtually no monetary value, as it was primarily a technological experiment among enthusiasts. It wasn’t until May 22, 2010, that Bitcoin gained some practical value when 10,000 BTC were traded for two pizzas—a transaction that is now celebrated as "Bitcoin Pizza Day." At the time, Bitcoin's price was just a fraction of a cent, far from its later milestones, such as its all-time high price of $108,388 on December 17, 2024.

The largest known Bitcoin holdings belong to Satoshi Nakamoto, Bitcoin's anonymous creator, who is estimated to have mined approximately 1 million BTC in Bitcoin’s early days. These holdings have remained untouched, adding to the mystery of Nakamoto’s identity. Apart from Nakamoto, early adopters and some institutional investors, such as corporate entities, also hold substantial amounts of Bitcoin.

As of December 2024, approximately 19.8 million BTC are in circulation. Bitcoin's total supply is capped at 21 million, a hard limit embedded into its code to ensure scarcity. The remaining 1.2 million BTC will be introduced through mining, with rewards halving every four years, slowing the issuance of new coins, maintaining Bitcoin's deflationary structure, and potentially influencing Bitcoin's price.

The time it takes to mine 1 Bitcoin varies based on the network’s difficulty level and the computational power of the mining equipment used. On average, a new block is added to the blockchain every 10 minutes, with the block reward currently set at 3.125 BTC. As more miners compete and network difficulty increases, mining 1 BTC requires more resources. This process will continue until all 21 million BTC are mined, with rewards halving approximately every four years.

Bitcoin first reached parity with the U.S. dollar in February 2011. This milestone marked the first time that the price of 1 BTC was equal in value to $1. The event reflected Bitcoin’s gradual transition from an experimental technology to a digital asset with measurable value, setting the stage for its rise to its eventual all-time high years later.