Bitcoin is a decentralized digital currency that allows people to send and receive money over the internet without relying on banks or governments. It was created in 2009 by an anonymous individual or group using the name Satoshi Nakamoto. Bitcoin operates on a technology called blockchain, which is a public, distributed ledger that records all transactions in a secure and transparent way.

Unlike traditional currencies, Bitcoin is not printed or controlled by any central authority. Instead, new bitcoins are created through a process known as mining, where powerful computers solve complex mathematical problems to validate transactions and secure the network. The total supply of Bitcoin is limited to 21 million coins, making it scarce and resistant to inflation.

Bitcoin can be used for various purposes, including online payments, international money transfers, and investment. Transactions are relatively fast and can be cheaper than traditional banking systems, especially for cross-border payments. Many people also view Bitcoin as a store of value, often referring to it as “digital gold,” because of its limited supply and growing adoption.

However, Bitcoin also faces challenges such as price volatility, regulatory uncertainty, and concerns about energy consumption. Despite these challenges, Bitcoin has played a major role in shaping the cryptocurrency industry and continues to influence the future of digital finance.