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Bitcoin

BTC

4.0

Price
$19,166.80
10/3/2022, 2:36:26 AM
diamondHands

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Market

Market stats

Market cap

$367.3B

Volume (24h)

$22.5B

Circulating supply

19.2M BTC

Typical hold time

138 days

Popularity

#1

All time high

$68,789.63

Price change (1h)

-0.28%

Price change (24h)

-0.58%

Price change (7d)

+1.8%

Trading activity

95% Buy0% Buy
5% Sell100% Sell

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Bitcoin is on the rise this week.

The price of Bitcoin has risen by 1.80% in the past 7 days. The price declined by 0.58% in the last 24 hours. In just the past hour, the price shrunk by 0.28%. The current price is $19,166.795 per BTC. Bitcoin is 72.14% below the all time high of $68,789.63.

The current circulating supply is 19,167,481 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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Social

Bitcoin on social media.

Bitcoin was mentioned in 277,329 out of 1,632,849 social media posts on Twitter and Reddit on Oct 01, 2022. 159,122 unique individuals are talking about Bitcoin and it is ranked #1 in most mentions and activity from collected posts.

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Key indicators

Contributors

159,122 people

Posts

277,329 posts

Dominance

16.98%

Volume rank

#1

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Coinbase Bytes

BTC Market

Fed's latest inflation remarks rocked crypto markets & BTC prices. What's next?

COINBASE BYTES • AUG 31, 2022

Fed Chair Jerome Powell said Fed policy actions could "bring some pain to households and businesses", which chilled investor confidence across markets. Biggest impacts to the market includes:
    Since Powell's remarks, Bitcoin revisted sub-$20,000 levels, among other impacts across both crypto and stock markets.
    On top of this, crypto investors are also bracing for September, which is typically a tough month for Bitcoin. In the last 5 years, September has consistently been the worst month for BTC, with market cap for top crypto assets seeing average drop of 10%.
International Bitcoin

Global crypto adoption is on the rise.

COINBASE BYTES • AUG 03, 2022

From Brazil to Nigeria, global crypto adoption is on the rise, despite market uncertainty.
    Nearly a year after El Salvador legalized Bitcoin, other Latin American countries are expanding their crypto footprint.
    Mercado Bitcoin, Brazil's largest crypto exchange, is looking to expand operations, while Honduras is experimenting with crypto tourism, by turning Santa Lucia into "Bitcoin Valley", with 60 local merchants planning to accept crypto payments.
    El Salvador’s finance minister, Alejandro Zelaya, told Bloomberg why he remains optimistic about the long-term prospects of the country’s efforts to adopt Bitcoin as a national currency.

FAQ

What is the current price of Bitcoin?

The price of 1 Bitcoin currently costs $19,166.80.

What is the market cap of Bitcoin?

The current market cap of Bitcoin is $367.30B. 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 $22.49B.

What other assets are similar to Bitcoin?

Assets that have a similar market cap to Bitcoin include Ethereum 2, Ethereum, Tether, 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 19 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 138 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, 95% of Coinbase users are buying Bitcoin. In other words, 95% of Coinbase customers have increased their net position in Bitcoin over the past 24 hours through trading.

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