Market cap: Over $550 billion
Created in 2009 by someone under the pseudonym Satoshi Nakamoto, Bitcoin (BTC) is the original cryptocurrency. As with most cryptocurrencies, BTC runs on a blockchain, or a ledger logging transactions distributed across a network of thousands of computers. Because additions to the distributed ledgers must be verified by solving a cryptographic puzzle, a process called proof of work, Bitcoin is kept secure and safe from fraudsters.
Bitcoinâs price has skyrocketed as itâs become a household name. In May 2016, you could buy Bitcoin for about $500. Since then Bitcoin has witnessed many ups and downs but has shown tremendous resistance. Last year Bitcoin lost 65% of its market value and now, as of May 3, 2023 Bitcoin is trading in the range of $28,000 to $29,000.
