Bitcoin is a virtual currency also known as cryptocurrency, which was launched in 2009 by an unidentified developer or a group of developers by the alias of Satoshi Nakamoto. It can be distributed, traded, and stored using a decentralized ledger system known as a blockchain. In Nakamoto's own words, the purpose of Bitcoin was to enable "online payments to be sent directly from one party to another without going through a financial institution.”
Its purpose is to eliminate the need for a third party to be involved in financial transactions by acting as money and a means of payment, independent of any one person or organisation. It has grown to be the most well-known cryptocurrency worldwide. As a result of its popularity, numerous other cryptocurrencies have been created. Bitcoin is available for purchase on numerous platforms
Bitcoin's total supply is limited to never exceed 21,000,000 coins. New coins are created during the process known as “mining”, which is a process where transactions are relayed across the network, they are then picked up by miners and packaged into blocks. These blocks are then protected by complex cryptographic calculations. These blockchain miners are paid by coins for their efforts in verifying transactions. The current market cap is $397,142,791,074, although it consistently fluctuates.