Bitcoin is the world’s most valuable cryptocurrency based on market capitalization. A group or individual which is attributed to the name “Satoshi Nakamoto” created Bitcoin in 2009 and released it as open-source software. As the first decentralized digital currency, it does not have a central bank or a single administrator.
The network is peer-to-peer, with transactions between users directly, without intermediaries. Transactions are verified by network nodes employing cryptography and recorded in a public distributed ledger called the blockchain. Bitcoin’s can be subdivided into eight decimal places: a thousandth of a bitcoin is known as a “Mili”, and a hundred millionth of a bitcoin is known as a “Satoshi”.
Bitcoin has seen a tremendous rise in value over the past few years. What was once worth approximately $0.0099 per coin is now worth tens of thousands per coin. It is because its supply is limited to 21 million coins. The institutional investors begin treating it as a digital equivalent of gold; many investors see this as an opportunity to invest in something rare. Because of its rising value, many expect Bitcoin’s price only to keep going up as time goes on. This keeps the Google search term “Is it good to buy bitcoin now” constantly active and relevant with searches.