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BTC

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Market

Market stats

Market cap

$526.6B

Volume (24h)

$5.6B

Circulating supply

19.5M BTC

Typical hold time

98 days

Popularity

#1

All time high

$68,789.63

Price change (1h)

-0.14%

Price change (24h)

+0.52%

Price change (7d)

+1.5%

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Bitcoin is on the rise this week.

The price of Bitcoin has risen by 1.50% in the past 7 days. The price increased by 0.52% in the last 24 hours. In just the past hour, the price shrunk by 0.14%. The current price is $27,001.47 per BTC. Bitcoin is 60.75% below the all time high of $68,789.63.

The current circulating supply is 19,500,275 BTC.

About

The world’s first cryptocurrency, Bitcoin is stored and exchanged securely on the internet through a digital ledger known as a blockchain. Bitcoins are divisible into smaller units known as satoshis — each satoshi is worth 0.00000001 bitcoin.

How does Bitcoin work?

Bitcoin was created by Satoshi Nakamoto, a pseudonymous person or team who outlined the technology in a 2008 white paper. It’s a simple concept: bitcoin is digital money that allows for secure peer-to-peer transactions on the Internet.

The invention of Bitcoin was a breakthrough in cryptography. Bitcoin’s key innovation was the blockchain — a piece of software that acts like a ledger, logging every transaction ever made using bitcoin. Unlike a bank’s ledger, the Bitcoin blockchain is distributed and verified across a network of computers. No company, country, or third party is in control of it. And anyone can become part of that network.

Bitcoin is based on encryption, making it extremely secure and universally accessible. Creating a “bank account” on the global Bitcoin network generates an extremely long password a.k.a. a “private key” that is impossible for anyone else to guess. Anyone, anywhere with Internet access can receive, send, and hold Bitcoin using the public version of their key (i.e. the version of their private key that can be freely shared in order to securely receive funds).

There will only ever be 21 million BTC. Bitcoin is digital money that cannot be inflated or manipulated by any individual, company, government, or central bank.

Bitcoin is highly divisible. You can hold, send, or receive fractions of a BTC. The smallest unit, i.e. 0.000 000 01 BTC, is called a “satoshi” or “sat.” As bitcoin’s value has risen, its easy divisibility has become a key attribute.

What is Bitcoin mining?

Bitcoin is often considered to be a “store of value” like gold, and like gold, new bitcoins are created by “mining” (up to a maximum 21 million coins). 

Bitcoin mining is the process by which thousands of computers around the world compete to record and verify transactions on the network. These specialized computers known as ‘mining rigs’ perform the equations required to verify and record a new transaction.

 In the early days, a typical desktop PC was powerful enough to participate, which allowed pretty much anyone who was curious to try their hand at mining. These days, however, the computers required are massive, specialized, and often owned by businesses or large numbers of individuals pooling their resources. As of October 2021, Cambridge University researchers estimate that U.S.-based miners maintain the highest percentage of global mining by country.

Who created Bitcoin?

The principles behind Bitcoin first appeared in a white paper published online in late 2008 by a person or group going by the name Satoshi Nakamoto.  

This paper wasn’t the first idea for digital money drawing on the fields of cryptography and computer science—in fact, the paper referred to earlier concepts—but it was a uniquely elegant solution to the problem of establishing trust between different online entities, where people may be hidden (like bitcoin’s own creator) by pseudonyms, or physically located on the other side of the planet.

Nakamoto devised a pair of intertwined concepts: the bitcoin private key and the blockchain ledger. When you hold bitcoin, you control it through a private key—a string of randomized numbers and letters that unlocks a virtual vault containing your purchase. Each private key is tracked on the virtual ledger called the blockchain.

Satoshi’s identity has never been revealed, and likely never will be. The fact that Bitcoin is not controlled by a single person or organization is core to its value proposition.

How does Bitcoin have value?  

Bitcoin’s value is inspired by properties such as:

  • A fixed and predictable monetary supply. Unlike fiat currency  (government-backed money), new Bitcoin cannot be created suddenly or by the trillions by any elected or unelected official. There will only ever be 21 million Bitcoin.

  • Bitcoin operates by open-source code and is globally transparent, unlike fiat currency. At any time, anyone can independently verify the total Bitcoin supply and its underlying code, as well as the balances of each account on the global ledger.

  • Bitcoin is secured by cutting-edge encryption, and is backed by immense amounts of energy. If an individual or organization were to try to undermine Bitcoin’s core encryption, it would require impossible amounts of energy, specialized computers, and space. Bitcoin is the most secure computing network in the world.

  • Unlike traditional bank accounts, anyone, anywhere can connect to the Bitcoin network. Bitcoin is an uncensorable and global network for transacting value.

So long as the above properties are useful to people across the world, Bitcoin will have value.

How can I buy Bitcoin?

You can create an account on Coinbase or an increasing number of other reputable financial technology companies to buy, send, and receive Bitcoin. Bitcoin is also increasingly accessible via traditional financial portfolios, for example in October 2021 the first Bitcoin futures-based ETF was approved. (ETFs are a popular way for investors to gain exposure to an asset like gold or tech stocks, and now Bitcoin.)

Released: January 2009

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News

The Block • Sep 27, 23

Bitcoin’s correlation with equities continuing to diverge

The correlation between bitcoin and equities will continue to diverge over the coming months due to the Fed's continued monetary tightening.

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Decrypt • Sep 27, 23

You Can Now Trade Bitcoin Mining Hashpower on Arbitrum

The Lumerin Hashpower Marketplace creates a novel method for decentralizing Bitcoin's global hashrate and makes mining accessible to retail investors.

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Unchained • Sep 27, 23

SEC Chair Gensler Says Bitcoin Isn’t a Security

Appearing before the U.S. House Financial Services Committee on Wednesday, Securities and Exchange Commission (SEC) Chair Gary Gensler said that bitcoin (BTC) isn’t a security but stopped short of calling the digital asset a commodity. The sentiment echoed Gensler’s previously more lenient stance on

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CoinDesk • Sep 27, 23

With All Eyes on a Spot Bitcoin ETF Approval, Don’t Sleep on ETH (or ETHE)

There’s a better trade than buying Grayscale’s GBTC if you’re optimistic the SEC will approve crypto ETFs.

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The Block • Sep 27, 23

FalconX participates in $3 million seed round for DeFi portfolio manager Bril Finance

Bril Finance raised $3 million in seed funding from FalconX, Kosmos Ventures and the Algorand Foundation. It also officially launched on Sei.

Read more

News Article Image

Unchained • Sep 26, 23

U.S. House Lawmakers Urge SEC’s Gensler to Approve Spot Bitcoin ETFs

Members of the House Financial Services Committee from both sides of the aisle nudged the Securities and Exchange Commission (SEC) Chair Gary Gensler to approve applications for spot bitcoin exchange-traded funds (ETFs), which are currently being held up in regulatory limbo. Reps. Mike Flood (R-NE),

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Coinbase Bytes

Crypto adoption

Crypto Worldwide: How Bitcoin is driving crypto adoption and financial access across Africa

COINBASE BYTES • MAR 29, 2023

Africa has emerged as an epicenter for crypto adoption. Entrepreneurs in Ghana, Nigeria, and South Africa are helping lead the charge.
    One of Bitcoin’s core use-cases is the ability to move money quickly and cheaply without any intermediaries. In Africa, where sending money — within and across borders — can be complicated, Bitcoin and crypto technology have been making a difference for large populations without access to the traditional banking system.
    Roughly 50% of African citizens don’t have banking access, making Bitcoin an attractive alternative. These pain points are a major reason Sub-Saharan Africa is among the fastest growing crypto markets on earth, with 6% of all transactions being peer-to-peer, more than double the share of the next closest region.
    Bitcoin’s Lightning Network is key to making BTC more accessible. Bitnob, a Nigeria-based crypto startup, is using the Lightning Network to enable cheap international transactions that settle in local currencies, and uses the Bitcoin network to move the money across borders.
    Crypto is global and borderless, and the adoption trends across Africa are affirming many of Bitcoin’s founding use cases. 
BTC hits a nine-month high

Market update: Why did Bitcoin just hit 2023 highs in the wake of a bank crisis?

COINBASE BYTES • MAR 22, 2023

Bitcoin just hit a nine-month high. This comes as the banking sector faces its worst crisis in 15 years.
    Bitcoin’s price reached a nine-month high on Wednesday Apr 12th, up 80% for the year. Since news broke about Silicon Valley Bank’s issues on March 9, Bitcoin has been on a tear, revisiting the $28,000+ level for the first time since last summer.
    BTC’s rally points to Bitcoin’s core narrative as a resilient store of value. Over the last few weeks, the foundational idea that Bitcoin operates outside the traditional financial system has been tested — especially after crypto grew correlated to equities markets in the last several years. But as banks have failed, BTC has consistently rallied, significantly outperforming the stock market.
    Bitcoin is showing incredible resilience amid major macroeconomic uncertainty, leading some to argue that the original cryptocurrency is emerging as a clear winner of this banking crisis — an outcome that underscores the promise that crypto represented for many supporters at its inception. 

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FAQ

What is the current price of Bitcoin?

We update our Bitcoin to USD currency in real-time. Get the live price of Bitcoin on Coinbase.

What is the market cap of Bitcoin?

The current market cap of Bitcoin is $526.62B. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Bitcoin?

The all-time high of Bitcoin is $68,789.63. This all-time high is highest price paid for Bitcoin since it was launched.

What is the 24 hour trading volume of Bitcoin?

Over the last 24 hours, the trading volume of Bitcoin is $5.58B.

What other assets are similar to Bitcoin?

Assets that have a similar market cap to Bitcoin include Ethereum, Tether, BNB, and many others. To see a full list, see our comparable market cap assets.

How many Bitcoin are there?

The current circulating supply of Bitcoin is 20 million.

What is the typical holding time of Bitcoin?

The median time that Coinbase customers hold Bitcoin before selling it or sending it to another account or address is 98 days.

What is the relative popularity of Bitcoin?

Bitcoin ranks 1 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Bitcoin?

Currently, 99% of Coinbase users are buying Bitcoin. In other words, 99% of Coinbase customers have increased their net position in Bitcoin over the past 24 hours through trading.

Can I buy Bitcoin on Coinbase?

Yes, Bitcoin is currently available on Coinbase’s centralized exchange. For more detailed instructions, check out our helpful how to buy Bitcoin guide.