Bitcoin is a decentralized digital currency that operates on a peer-to-peer network without a central authority or intermediaries. It was created in 2009 by an unknown individual or group under the pseudonym Satoshi Nakamoto. Bitcoin is based on blockchain technology, which is a distributed ledger that records transactions and ensures their validity through a consensus mechanism.
In the past, Bitcoin has experienced significant price volatility, with sharp increases and decreases in its value. In early 2021, Bitcoin hit an all-time high of nearly $65,000 per coin, but it has since experienced a correction and its value has fluctuated between $30,000 and $50,000 in recent months.
Despite its volatility, Bitcoin has gained broader acceptance and use as a form of payment and investment. Many companies, including Tesla, have invested in Bitcoin and accept it as payment for their products and services. Additionally, several countries have started to explore the use of digital currencies, including Bitcoin, as an alternative to traditional fiat currencies