đ **Bitcoin Price Update**
Today, Bitcoin (BTC) is trading at $61,751.35, as of 8 a.m. ET. Its highest intraday price over the past year was $73,835.57 on March 14, 2024.
đĄ **What is Bitcoin?**
đ **Revolutionary Blockchain Technology**
Bitcoin operates on a revolutionary blockchain network, enabling global financial transactions without the need for banks or intermediaries. Its security relies on cryptography, with transactions validated by miners solving complex puzzles.
đ° **Price Determination and Supply**
The price of Bitcoin is determined solely by supply and demand since it doesn't represent tangible assets or generate earnings. With a capped supply of 21 million BTC, demand largely drives its price, influenced by investor sentiment.
đ **Bitcoin's Price History**
Bitcoin's journey began with a humble transaction in late 2009, valuing it at about one-tenth of a cent per BTC. Halving events occur approximately every four years, reducing the supply of new BTC and theoretically supporting its price.
đ **Historical Milestones**
Bitcoin's price history includes significant milestones, such as surpassing $1,000 in 2013 and reaching $20,000 in late 2017. Despite fluctuations, its popularity continues to grow.
đŒ **Investment Opportunities**
Investors can purchase Bitcoin on various cryptocurrency exchanges like Binance, Coinbase, or Kraken. Storing BTC requires a wallet, either hardware or software, with options for both online (hot) and offline (cold) storage.
đ **Indirect Investment Options**
Additionally, investors can access the Bitcoin market indirectly through bitcoin funds, including recently approved bitcoin spot ETFs by the SEC, such as Grayscale Bitcoin Trust (GBTC), VanEck Bitcoin Trust (HODL), and Fidelity Wise Origin Bitcoin Fund (FBTC).
â ïž **Disclaimer:** Cryptocurrency investments carry risks. Prices are subject to high volatility and market fluctuations. Investors should conduct thorough research and consider their risk tolerance before investing.
đđđ#ETHETFS #BTC #ETFvsBTC #BlackRock
