As is well known, Bitcoin is a type of cryptocurrency. That is, a digital currency that can function as a medium of exchange. It is virtual money whose price varies, as it happens with other currencies such as the dollar or the euro.
In recent years, Bitcoin has grown exponentially, making it the largest cryptocurrency. Many consider that this crypto will replace gold as a store of value, due to its strict digital properties, its immutability, and scarcity. To understand what it is, you have to review its origin.
From an idea to a revolution
According to the Forbes portal, it can be established that Bitcoin, as well as many other inventions, products, and services that exist in the world, are part of the idea of a person or entity, in this case, under the pseudonym Satoshi Nakamoto. In 2009, the programmer, together with other volunteer developers, created a form of decentralized accounting, based on cryptography, that was not going to require banking services as they are known.
They called this system “A Peer-to-Peer Electronic Cash System” (a P2P or point-to-point electronic cash system). It is estimated that this system saw the light when its authors, anonymously, published it on the Metzger, Dowdeswell & Co. LLC mailing list, that is, what would be the authority of the cryptographic society and policies related to its use.
The document that gave life to Bitcoin can be found on the crypto website, and supports the creation of Nakamoto & partners, as “a peer-to-peer version of electronic cash that would allow online payments to be sent directly from a part to another without going through a financial institution, that with the aim of optimizing processes.”
After developing the necessary technology to make Bitcoin transactions possible, in 2011 the cryptocurrency code and the domains of the web pages were distributed among several members of the new community created around the digital currency.
Since its creation, until 2010, when Nakamoto and company stopped developing the system (later it was continued by the Bitcoin Foundation), the system received numerous tests of trust that have been ratifying it throughout these years.
In conclusion, Bitcoin is recognized as the first digital currency on the market and the one with the highest price.
Thanks to the development of applications that allow buying and selling Bitcoin in a couple of minutes from any device, the adoption of the cryptocurrency has intensified.
Bitcoin has had considerable increases in its price, as well as decreases. However, taking into account its origin, when it cost less than a penny, it can be established that its growth has been significant. At the same time, it is expected to continue to increase over the years.
Until mid-April, where Bitcoin reached the USD 65,000 area, it was on an upward curve. From that point, it has dropped to the USD 29,000 area. The price is expected to return to its bullish run in the following months.
Companies, investors, and more people are taking the step to invest with this cryptocurrency, which, according to some specialists, is projected to generate great changes in the dynamics of acquisition and sale of goods or services on a global scale.