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Bitcoin

BTC

Price
$16,855.63
11/30/2022, 6:45:33 PM
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Market

Market stats

Market cap

$325.0B

Volume (24h)

$25.5B

Circulating supply

19.2M BTC

Typical hold time

143 days

Trading activity

Not enough data

Popularity

#1

All time high

$68,789.63

Price change (1h)

+0.36%

Price change (24h)

+2.33%

Price change (7d)

+2%

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Bitcoin is on the rise this week.

The price of Bitcoin has risen by 2.00% in the past 7 days. The price increased by 2.33% in the last 24 hours. In just the past hour, the price grew by 0.36%. The current price is $16,855.63 per BTC. Bitcoin is 75.50% below the all time high of $68,789.63.

The current circulating supply is 19,220,900 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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Last update: 6:44 PM

Reading List

News

The Block • Nov 30, 22

Bitcoin, ether prices buoyant in line with crypto-related stocks, Grayscale products still falling

Crypto stocks rose in line with bitcoin and ether on Wednesday morning, meanwhile there was no such relief for Grayscales structured products.

Read more

Crypto stocks rose in line with bitcoin and ether on Wednesday morning, meanwhile there was no such relief for Grayscales structured products.

Bloomberg • Nov 30, 22

Bitcoin Climbs to Two-Week High Ahead of Speech by Fed’s Powell

Bitcoin spiked higher Wednesday in the countdown to a speech by Federal Reserve Chair Jerome Powell that may cement expectations for a slower pace of interest-rate hikes in the US.

Read more

Bitcoin spiked higher Wednesday in the countdown to a speech by Federal Reserve Chair Jerome Powell that may cement expectations for a slower pace of interest-rate hikes in the US.

The Block • Nov 29, 22

Bitcoin, ether tick higher as Silvergate stock dips, GBTC discount widens

Silvergate stock continued to dip on Tuesday despite the firm saying it had less than $20 million of its total deposits on BlockFi.

Read more

Silvergate stock continued to dip on Tuesday despite the firm saying it had less than $20 million of its total deposits on BlockFi.

Blockworks • Nov 09, 22

Bitcoin futures and short ETFs record huge volume spike Tuesday

Increased activity came amid volatile markets as Binance revealed intention to buy FTX The post Bitcoin futures and short ETFs record huge volume spike Tuesday appeared first on Blockworks.

Read more


Increased activity came amid volatile markets as Binance revealed intention to buy FTX
The post Bitcoin futures and short ETFs record huge volume spike Tuesday appeared first on Blockworks.

Decrypt • Nov 09, 22

Bitcoin Falls to Two-Year Low as Market Reels From FTX Fallout

The price of the biggest cryptocurrency has not stopped plunging—taking most of the digital asset market with it.

Read more

The price of the biggest cryptocurrency has not stopped plunging—taking most of the digital asset market with it.

The Block • Nov 09, 22

Bitcoin drops 10%, Ark Invest dumps Robinhood for Coinbase

Crypto prices continue to trend downwards, meanwhile one asset manager picked up over $21 million worth of Coinbase shares are dumping nearly $10 million in Robinhood stock.

Read more

Crypto prices continue to trend downwards, meanwhile one asset manager picked up over $21 million worth of Coinbase shares are dumping nearly $10 million in Robinhood stock.

Coinbase Bytes

Bitcoin & inflation report

Market Update: crypto and stock markets bracing for inflation report

COINBASE BYTES • OCT 12, 2022

Global markets were especially jittery ahead of last Thursday’s Consumer Price Index (CPI) report. The CPI provides the latest data on U.S. inflation and set the stage for the Federal Reserve’s November rate-hike plans. 
    Bitcoin and the S&P 500 have lost market cap due to anxieties about September’s relatively strong job growth, the inflation report, and the Fed’s response.
    All eyes are now on September’s CPI report. If it shows inflation remains north of 8%, near four-decade highs, some analysts believe another 0.75% rate hike is likely a certainty.
    As one analyst put it on CNBC: “There seems to be some jitters and derisking across all markets as we approach Thursday’s CPI release. Bitcoin is moving closely with equities.”
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%.

Coinbase Bytes

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FAQ

What is the current price of Bitcoin?

The price of 1 Bitcoin currently costs $16,855.63.

What is the market cap of Bitcoin?

The current market cap of Bitcoin is $324.97B. 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 $25.48B.

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 143 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, 96% of Coinbase users are buying Bitcoin. In other words, 96% of Coinbase customers have increased their net position in Bitcoin over the past 24 hours through trading.