Bitcoin (BTC) stands as the pioneering asset of the cryptocurrency industry. Since its launch in 2009, Bitcoin has ignited global growth and adoption of digital currencies, ultimately shaping the sector as we know it today. With a maximum supply capped at 21 million coins, scarcity remains a central theme in discussions about Bitcoin’s value. The price of Bitcoin has consistently captured attention due to its history of dramatic fluctuations.
Satoshi Nakamoto, a pseudonymous individual or group, introduced the concept of Bitcoin through a white paper published in 2008. The first block, known as the genesis block, was launched in 2009, formally introducing BTC as a digital asset. Satoshi Nakamoto ceased public communication in Bitcoin’s early years, and their true identity remains unknown.
Although the cryptocurrency industry began with Bitcoin and its underlying blockchain technology, it now encompasses thousands of digital assets and a wide range of blockchain-based solutions. Over time, competitors have attempted to create alternative digital assets aiming to improve upon Bitcoin’s model as a store of value and medium of exchange. Despite these efforts, Bitcoin continues to lead as the highest-valued asset by market capitalization.
How Bitcoin Works
As Bitcoin adoption continues to grow annually, more people are becoming curious about how the cryptocurrency actually functions. Bitcoin is a decentralized digital currency that operates on its own blockchain—a distributed ledger secured and maintained by a global network of participants. It is a borderless asset that can be traded and transacted without restrictions. Protected by its open-source code and limited supply, Bitcoin is inherently scarce and deflationary, unlike traditional fiat currencies like the US dollar.
Typically valued against the US dollar, Bitcoin’s price has experienced substantial growth over the years. BTC holders can store and transfer their Bitcoin independently, without being limited by banking hours or geographic boundaries. Bitcoin has also attracted significant mainstream attention, partly due to endorsements from celebrities like Elon Musk and adoption by major companies such as PayPal.
What Is Bitcoin Mining and How Does It Work?
As mentioned, Bitcoin operates on its own blockchain without relying on third parties to facilitate transactions or store value. Bitcoin mining is the essential process that powers the network.
Bitcoin runs on a proof-of-work (PoW) blockchain, which consists of a continuous chain of blocks containing transaction data. Bitcoin miners use specialized computer hardware to solve complex mathematical problems. The first miner or mining pool to solve each problem receives a reward in BTC—consisting of newly minted coins (block reward) and transaction fees paid by users. However, the energy consumption required for Bitcoin mining has made its carbon footprint a topic of ongoing debate.
How and Where to Buy Bitcoin
Bitcoin can be acquired through several channels. Purchasing BTC on a cryptocurrency exchange is one of the most common methods. Interested individuals can also buy Bitcoin through peer-to-peer (P2P) platforms.
For those looking to use or hold Bitcoin, one common approach is to create an account on a centralized cryptocurrency exchange, transfer funds from a linked bank account, and then purchase Bitcoin. It is important to comply with all relevant legal requirements, such as Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations, when buying Bitcoin or other cryptocurrencies.
How much is 1 Bitcoin worth? What is Bitcoin’s price today? These are logical questions for anyone entering the market. Bitcoin’s price fluctuates constantly as the asset trades 24/7 worldwide, including on holidays. The current Bitcoin price can be viewed using the real-time price indicator at the top of this page. For historical Bitcoin price data, refer to the Bitcoin price chart above or the table below.
Key Bitcoin Metrics
Market Statistics
- Market Cap: ¥15.55 Trillion
- 24-Hour Trading Volume: ¥207.247 Billion
- Circulating Supply: 19.8665 Million BTC
- Total Supply: 19.8665 Million BTC
- Year-to-Date Return: 15.93%
Bitcoin Price Data
- Opening Price (24h): ¥779,294.66
- 24-Hour High: ¥792,049.58
- 24-Hour Low: ¥778,012.43
- 52-Week High: ¥795,439.61
- 52-Week Low: ¥282,268.16
- All-Time High: ¥803,123.11
Latest Market News
Staying informed with the latest developments can help you understand factors influencing Bitcoin’s price. Here are some of the recent headlines affecting the market:
- Market analysts suggest that a lack of new buyers and greed-driven FOMO may keep Bitcoin's price below $112,000 for longer than many anticipate.
- In June, Bitcoin miners strategically reduced operations in Texas to avoid high peak-demand energy costs, prioritizing cost efficiency over short-term production.
- New discussions are emerging around using Bitcoin as collateral rather than selling it, offering alternative paths to financial independence.
- Regulatory developments, including proposed crypto tax reforms in the U.S., are being closely watched for potential market impact.
- Technical analysis indicates that Bitcoin must hold above $109,000 to sustain bullish momentum and challenge new all-time highs.
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Frequently Asked Questions
What determines the price of Bitcoin?
Bitcoin’s price is primarily determined by supply and demand dynamics in the global market. Factors such as investor sentiment, regulatory news, macroeconomic trends, and technological developments can all influence its value.
Can Bitcoin be converted to cash?
Yes, Bitcoin can be sold on cryptocurrency exchanges or through peer-to-peer platforms and converted into fiat currency like CNY, USD, or EUR, which can then be withdrawn to a bank account.
Is Bitcoin a good investment?
Bitcoin has shown significant long-term growth but also exhibits high short-term volatility. Potential investors should research thoroughly, consider their risk tolerance, and preferably consult with a financial advisor.
How can I store Bitcoin safely?
Bitcoin can be stored in digital wallets, which come in various forms such as hardware wallets, software wallets, and mobile wallets. For large amounts, cold storage (offline) options are generally recommended for enhanced security.
What is Bitcoin’s role in the crypto economy?
As the original cryptocurrency, Bitcoin is often considered a store of value and a benchmark for the broader crypto market. It remains the largest cryptocurrency by market capitalization and trading volume.
How often does Bitcoin’s price change?
Bitcoin trades 24/7 around the world, so its price changes continuously based on trading activity across global exchanges.
Note: All price data and metrics are updated in real-time. This article is for informational purposes only and does not constitute financial advice.