BTC stands for Bitcoin, which is a type of cryptocurrency—a digital or virtual form of money that uses cryptography for security. Bitcoin is decentralized, meaning it operates without a central authority like a bank or government. Instead, it relies on a peer-to-peer network where transactions are verified by network nodes through cryptography and recorded in a public ledger known as a blockchain.

Bitcoin was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and was released as open-source software in 2009. It is the first and most well-known cryptocurrency and is often referred to as digital gold due to its scarcity and store of value properties.

Key features of Bitcoin include:

Limited Supply: There will only ever be 21 million bitcoins in existence.Decentralization: No central authority controls Bitcoin.Blockchain: Transactions are recorded on a public ledger, making them transparent and secure.Mining: New bitcoins are created through a process called mining, where powerful computers solve complex mathematical problems.

Bitcoin can be used for various purposes, including investment, purchasing goods and services, and transferring money across borders with minimal fees.