Bitcoin, created in 2008 by Satoshi Nakamoto, is the first cryptocurrency to use blockchain technology to create a decentralized payment system. Bitcoin does not rely on banks or financial institutions; instead, transactions are verified through a network of users, ensuring transparency and security.

Since its launch, the value of Bitcoin has experienced significant volatility. It once peaked at $1,000 in 2013, but has also undergone many sharp declines. The value of Bitcoin is largely influenced by investment demand, acceptance by financial institutions, and macroeconomic factors such as inflation and monetary policy. However, Bitcoin has yet to become a stable medium of exchange like traditional currencies.

Legally, countries have had contrasting reactions. While some countries like El Salvador recognize Bitcoin as legal tender, many others ban or restrict its use due to concerns over fraud, money laundering, and lack of oversight.

Nevertheless, Bitcoin is still seen as a "hedge" against inflation and an attractive investment tool. However, its stability remains a major issue, leading many to view Bitcoin as an unpredictable "financial bubble." The future of Bitcoin depends on the development of blockchain technology, regulatory frameworks, and global acceptance.