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#WhiteHouseCryptoSummit $BTC Bitcoin (abbreviation: BTC; sign: ₿) is the first decentralized cryptocurrency. Based on a free-market ideology, bitcoin was invented in 2008 by an unknown entity under the pseudonym of Satoshi Nakamoto. Use of bitcoin as a currency began in 2009, with the release of its open-source implementation. In 2021, El Salvador adopted it as legal tender. It is mostly seen as an investment and has been described by some scholars as an economic bubble. As bitcoin is pseudonymous, its use by criminals has attracted the attention of regulators, leading to its ban by several countries as of 2021. DenominationsPluralBitcoinsSymbol₿ (Unicode: U+20BF ₿ BITCOIN SIGN)[1]CodeBTCPrecision10−8 Subunits 1⁄1000Millibitcoin 1⁄1000000Microbitcoin 1⁄100000000Satoshi Development Original author(s)Satoshi Nakamoto White paper"Bitcoin: A Peer-to-Peer Electronic Cash System"Implementation(s)Bitcoin CoreInitial release0.1.0 / 9 January 2009 (16 years ago)Latest release28.1 / 9 January 2025 (58 days ago)[3]Code repositorygithub.com/bitcoin/bitcoinDevelopment statusActiveWritten inC++Source modelFree and open-source softwareLicenseMIT LicenseLedgerLedger start3 January 2009 (16 years ago)Timestamping schemeProof of work (partial hash inversion)Hash functionSHA-256 (two rounds)Issuance scheduleDecentralized (block reward) Initially ₿50 per block, halved every 210,000 blocksBlock reward₿3.125 (as of 2024)Block time10 minutesCirculating supply₿19,591,231 (as of 6 January 2024)Supply limit₿21,000,000[b]ValuationExchange rateFloatingDemographicsOfficial user(s)El Salvador[4]WebsiteWebsitebitcoin.org

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