Bitcoin price

Bitcoin (BTC) is the world’s first and largest cryptocurrency by market capitalization. It operates on a decentralized peer-to-peer network secured by cryptographic proof rather than trust in a central authority. Bitcoin transactions are recorded on a public ledger called the blockchain, which is maintained by a global network of miners who validate and confirm transactions in exchange for block rewards.

Created in 2009 by the pseudonymous Satoshi Nakamoto, Bitcoin introduced a breakthrough solution to the double-spending problem in digital currencies without requiring a trusted third party. Its supply is permanently capped at 21 million coins — a hard limit enforced by the protocol’s code — making it one of the scarcest digital assets in existence.

Bitcoin serves multiple roles in the modern financial system: a medium of exchange for peer-to-peer payments, a store of value often compared to digital gold, and an investment asset traded on hundreds of exchanges worldwide. It has been adopted as legal tender in El Salvador, and major financial institutions including BlackRock, Fidelity, and ARK Invest now offer Bitcoin investment products through spot ETFs approved in January 2024.

Bitcoin is a decentralized digital currency that allows people to send and receive value directly over the internet without banks, payment processors, or any other intermediary. Unlike traditional currencies issued by governments, known as fiat money, Bitcoin is not controlled by any single entity. Instead, it runs on an open-source protocol maintained by thousands of computers worldwide.

At its core, Bitcoin uses a technology called blockchain, a distributed ledger where every transaction is permanently recorded and publicly verifiable. When you send Bitcoin to someone, that transaction is broadcast to the network, verified by miners through a process called proof of work, and then added to a block of transactions. Once confirmed, the transaction is irreversible.

Each Bitcoin is divisible into 100 million smaller units called satoshis (or “sats”), making it possible to buy and transact with very small amounts. You don’t need to buy a whole Bitcoin, most people own a fraction. As of today, 1 BTC equals approximately $71,630.68, and 1 satoshi equals approximately $0.000716.

Bitcoin’s total supply is capped at 21 million coins, a limit hardcoded into the protocol. This fixed supply is one of the key reasons Bitcoin is often compared to gold, it cannot be inflated or debased by central banks. As of today, over 20.11M BTC have already been mined, with the remaining supply released gradually through mining rewards that halve approximately every four years.

Bitcoin was created by an individual or group using the pseudonym Satoshi Nakamoto. In October 2008, Nakamoto published a whitepaper titled “Bitcoin: A Peer-to-Peer Electronic Cash System” that described a method for electronic transactions without relying on trust. The Bitcoin network launched on January 3, 2009, when Nakamoto mined the first block, known as the genesis block, which contained the now-famous embedded headline from The Times: “Chancellor on brink of second bailout for banks.”

Nakamoto actively developed the software and communicated with early contributors like Hal Finney and Gavin Andresen until mid-2010, then gradually withdrew from public involvement. Finney received the first-ever Bitcoin transaction, 10 BTC sent by Nakamoto on January 12, 2009, and remained an active developer until his death in 2014.

Despite numerous investigations and claims over the years, Satoshi Nakamoto’s true identity has never been conclusively established. The wallet addresses associated with Nakamoto hold an estimated 1 million BTC, none of which have ever been moved.

Bitcoin operates on a proof-of-work blockchain, a decentralized network of computers called nodes that collectively maintain a shared ledger of all transactions ever made.

When you send Bitcoin, your transaction is broadcast to the network and placed in a pool of unconfirmed transactions, the mempool. Miners, specialized computers running the Bitcoin software, compete to bundle pending transactions into a block by solving a computationally intensive cryptographic puzzle. The first miner to solve the puzzle earns the right to add the block to the chain and receives a block reward, currently 3.125 BTC, plus any transaction fees included by senders.

This process, known as proof of work, ensures that no single party can alter the transaction history without redoing the computational work of every subsequent block, a task that becomes exponentially more difficult as the chain grows. Bitcoin’s current network hashrate exceeds 1.1 ZH/s, making it the most computationally secure network in existence.

New blocks are added approximately every 10 minutes, and each block can contain several thousand transactions. Once a transaction is included in a block and several subsequent blocks are added on top of it, typically 6 confirmations or about one hour, it is considered final and irreversible.

Bitcoin mining is the process of using specialized computer hardware to validate transactions and secure the Bitcoin network. Miners compete to solve a cryptographic hash puzzle, and the winner adds the next block of transactions to the blockchain and earns a reward.

In Bitcoin’s early years, mining was possible with regular CPUs and GPUs. Today, the network’s difficulty has increased to the point where mining requires ASIC hardware, purpose-built machines designed solely for Bitcoin mining. The largest mining operations are run by publicly traded companies like Marathon Digital, Riot Platforms, and Core Scientific.

Solo miners can still participate, though the odds of successfully mining a block individually are extremely low given the current hashrate. Most individual miners join mining pools, where participants combine their computing power and share rewards proportionally.

The current block reward is 3.125 BTC, which at today’s price is worth approximately $223,845.87. This reward is the primary incentive that secures the network, supplemented by transaction fees paid by users. As the block reward decreases through future halvings, transaction fees are expected to become a larger share of miner revenue.

The Bitcoin halving is a programmed event that cuts the mining block reward in half approximately every 210,000 blocks, roughly every four years. This mechanism is built into Bitcoin’s protocol to control the rate at which new BTC enters circulation, gradually enforcing the 21 million supply cap.

The most recent halving occurred in April 2024, reducing the block reward from 6.25 BTC to 3.125 BTC. Historically, each halving has preceded a significant bull run in Bitcoin’s price within 12-18 months, as reduced supply issuance meets sustained or growing demand. Bitcoin reached a new all-time high of $126,198 in October 2025, roughly 18 months after the fourth halving, consistent with the pattern observed in prior cycles.

However, past performance does not guarantee future results, and each successive halving reduces supply issuance by a smaller absolute amount, which may dampen the effect over time. The next halving is expected around 2028.

Bitcoin’s all-time high price was $126,198.07, reached on Oct 6, 2025. At that peak, Bitcoin’s total market capitalization briefly exceeded $2.5 trillion, making it one of the most valuable assets in the world.

Bitcoin is currently trading at $71,630.68, approximately 43.24% below its all-time high below its all-time high.

Bitcoin’s all-time low was $0.049, recorded on July 14, 2010, representing a gain of over 140 million percent from its lowest recorded price to its highest.

Bitcoin can be purchased through cryptocurrency exchanges, brokerage apps, Bitcoin ATMs, and peer-to-peer platforms. Here’s an overview of the most common methods:

• Cryptocurrency exchanges — Platforms like Coinbase, Binance, and Kraken allow you to create an account, deposit fiat currency (USD, EUR, etc.), and buy Bitcoin directly. Most exchanges require identity verification (KYC). See our exchange reviews for detailed comparisons.
• Brokerage and payment apps — Services like Cash App, PayPal, and Robinhood offer simplified Bitcoin buying for users who don’t need advanced trading features. These are often the easiest entry point for first-time buyers.
• Bitcoin ETFs — If you prefer traditional brokerage accounts, spot Bitcoin ETFs like IBIT, FBTC, and ARKB let you invest in Bitcoin through the stock market without handling crypto directly.
• Bitcoin ATMs — Physical machines located in cities worldwide that let you buy Bitcoin with cash or debit card. Convenient but typically charge higher fees (5-10%) than online exchanges.

After purchasing, you can store your Bitcoin on the exchange or transfer it to a personal Bitcoin wallet for greater security and self-custody.

Bitcoin is stored using wallets, software or hardware tools that manage your private keys, which are required to authorize transactions. Your Bitcoin doesn’t physically live “in” a wallet; it exists on the blockchain. The wallet simply holds the cryptographic keys that prove ownership.

There are several types of Bitcoin wallets:

• Hot wallets (software, connected to internet) — Mobile apps, desktop programs, and browser extensions. Convenient for everyday use and smaller amounts, but more vulnerable to online threats. Examples include Exodus, Electrum, and BlueWallet.
• Cold wallets (hardware, offline) — Physical devices that store your private keys offline. The most secure option for long-term storage of larger amounts. Examples include Ledger Nano and Trezor.
• Exchange wallets (custodial) — Leaving Bitcoin on an exchange like Coinbase or Binance. The easiest option, but you don’t control the private keys. The crypto community’s standard advice: “not your keys, not your coins.”

For most users, a combination works best, a hot wallet for day-to-day transactions and a cold wallet for long-term holdings. For our full comparison of Bitcoin wallets by type, security, and features, see Best Bitcoin Wallets.

Bitcoin has a fixed maximum supply of 21 million coins, a hard cap written into its protocol that cannot be changed by any individual, company, or government. As of Nov 12, 2026, approximately 20.11M BTC have already been mined, leaving fewer than one million left to enter circulation.

This built-in scarcity is central to Bitcoin’s value proposition. Unlike fiat currencies, where central banks can increase the money supply at will, no one can create additional Bitcoin beyond the 21 million limit. The final Bitcoin is projected to be mined around the year 2140, though the vast majority of supply will be in circulation well before then, with over 99% expected to be mined by approximately 2035.

It’s worth noting that a significant portion of the existing supply is estimated to be permanently lost. Research suggests that between 3 and 4 million BTC are inaccessible due to lost private keys, forgotten wallets, and the presumed holdings of Satoshi Nakamoto, roughly 1 million BTC that have never moved. This effectively reduces the circulating supply below what the blockchain reports.

Bitcoin and Ethereum are the two largest cryptocurrencies, but they serve fundamentally different purposes.

Bitcoin is designed to do one thing well, be sound, censorship-resistant money with a predictable and finite supply. Ethereum is designed to be a general-purpose computation platform where developers build decentralized applications.

Many investors hold both as complementary assets: Bitcoin for long-term value storage and a hedge against monetary inflation, and Ethereum for exposure to the broader decentralized application ecosystem including DeFi, NFTs, and layer-2 scaling networks.