Bitcoin (BTC) is one of the first cryptocurrencies to rise to popularity. Invented in 2008, it is now the largest blockchain network and protocols that support BTC state that there can only ever be 21 million BTC in existence. It is expected that all available Bitcoin will circulate into the market by 2140. Because of this fixed nature, Bitcoin’s value is heavily affected by demand.
Because of the growing popularity of BTC, several new cryptocurrencies have been created to attempt to penetrate the market. BTC’s strongest competitor is Ethereum, followed by other cryptocurrencies known as alternative coins, or Altcoins.
We hope you’ve enjoyed reading CFI’s guide to Bitcoin. To learn more about financial markets, check out the following CFI resources.