Launched in 2009 by the pseudonymous creator Satoshi Nakamoto, Bitcoin (BTC) is the original and most valuable cryptocurrency, often heralded as "digital gold." It operates as a decentralized, peer-to-peer payment system that enables the transfer of value without the need for central intermediaries like banks or governments. Transactions are recorded on a public, immutable ledger called the blockchain, which is secured by a global network of computers (miners) through a process known as Proof of Work. Defined by its strict scarcity, Bitcoin has a hard supply cap of 21 million coins, a feature designed to make it a deflationary store of value and a hedge against traditional currency inflation.
