Bitcoin is a cryptocurrency (digital currency) born from blockchain technology. Unlike traditional fiat currencies we use daily, Bitcoin has no physical form—it exists solely in the digital realm. Moreover, its supply is capped, meaning it cannot be arbitrarily inflated like fiat currencies, which governments can print at will.
The Birth of Bitcoin
"Bitcoin is only 15 years old."
Bitcoin came into existence on January 3, 2009, when its genesis block went live.
Compared to gold, which appeared in human history as early as 3000 BC, Bitcoin's lifespan hasn't even seen a child grow to adulthood.
Bitcoin's Limited Supply
"Scarcity is brutal."
This phrase perfectly describes Bitcoin, which has a fixed total supply of 21 million coins. No additional Bitcoin will ever be created—a rule set by its designer, Satoshi Nakamoto, in the Bitcoin whitepaper.
Based on current projections, the last Bitcoin will be mined in 2140. After that, no new Bitcoin can enter circulation.
As of 2024, over 92% of Bitcoin—approximately 19 million coins—has already been mined. However, accounting for lost private keys and unforeseen circumstances, the actual circulating supply is even smaller.
Bitcoin's Smallest Unit
"The smallest Bitcoin unit is a Satoshi."
100 million Satoshis equal 1 Bitcoin. This unit honors Bitcoin's creator, Satoshi Nakamoto.
While traditional currencies have their smallest denominations (e.g., 1 NT dollar), Bitcoin—as a cryptocurrency—can be divided into 0.00000001 (one hundred-millionth).
Bitcoin's Market Capitalization
"Ranked among the top 10 global assets."
According to CompaniesMarketCap, Bitcoin ranks 10th in global asset market capitalization when priced around $65,000.
Global Asset Rankings (Top 10)
- Gold
- Microsoft
- Apple
- NVIDIA
- Saudi Aramco
- Alphabet (Google)
- Amazon
- Silver
- Meta (Facebook)
- Bitcoin
For Bitcoin to match gold's market cap, its price must rise 11x to ~$715,000. To surpass Microsoft, it needs only a 2.5x increase (~$162,500) to become the world's #2 asset.
Bitcoin Halving
"Supply diminishes over time."
With a capped supply, Bitcoin mining rewards decrease as more coins enter circulation.
Historical Halvings:
- Initial reward: 50 BTC per block
- 1st halving (2012): 25 BTC
- 2nd halving (2016): 12.5 BTC
- 3rd halving (2020): 6.25 BTC
The 4th halving (April 2024) will reduce rewards to 3.125 BTC per block.
Bitcoin's Core Features
"Decentralized, immutable, and transparent."
As the first and largest cryptocurrency, Bitcoin operates differently from fiat currencies.
Decentralization
Unlike government-issued currencies, Bitcoin runs on blockchain, free from institutional control. Its value is purely market-driven.
👉 Discover how decentralization empowers users
Immutability
All Bitcoin transactions are permanently recorded on the blockchain. Once transferred, only the recipient can reverse the action—making fraud virtually impossible.
Transparency
Every transaction is publicly verifiable.
Peer-to-Peer Transfers
With just an internet connection and a wallet address, users can send/receive Bitcoin without intermediaries.
FAQs
1. How many Bitcoin are left to mine?
As of 2024, ~8% (1.68 million BTC) remain unmined.
2. Who owns the most Bitcoin?
Satoshi Nakamoto is believed to hold ~1 million BTC, but early adopters and institutions like MicroStrategy own significant amounts.
3. Can Bitcoin be hacked?
Bitcoin's blockchain has never been hacked, but exchanges and wallets remain vulnerable.
👉 Secure your Bitcoin with trusted wallets
4. Will Bitcoin replace fiat currency?
While unlikely to fully replace traditional money, Bitcoin is increasingly used for payments and as a store of value.
5. What drives Bitcoin’s price?
Factors include adoption rates, regulatory news, macroeconomic trends, and halving events.
6. How do I start investing in Bitcoin?
Use reputable exchanges, diversify investments, and store BTC securely in cold wallets.
By understanding these key aspects, you’ll grasp why Bitcoin remains the dominant force in the cryptocurrency space. Its unique properties continue to attract investors, technologists, and financial innovators worldwide.