Bitcoin is the first and most popular digital currency - a cryptocurrency. It powers a peer-to-peer network for the exchange of value through the use of a decentralized protocol. The idea behind Bitcoin is to have a system where there is no middleman or central authority. The live Bitcoin to EUR conversion is € 57,958.44.
Bitcoin refers to both the software protocol as well as to the digital asset, which goes by the ticker symbol BTC. At its most basic level, Bitcoin is useful for transacting value outside the traditional financial system. You can buy and sell BTC for other cryptos alongside more traditional currencies at crypto exchanges like Binance, Kraken and Bitstamp.
Satoshi Nakamoto, a mysterious person (or group of people), launched Bitcoin in 2009. What sets it apart is that it's completely decentralized, meaning no single entity controls it. Instead, a network of computers, known as miners, maintains and validates transactions.
Bitcoin mining creates new bitcoins in the form of block rewards. The process verifies transactions on the blockchain. Miners earn Bitcoin as a reward for completing "blocks" of verified transactions and adding them to the blockchain.
It has a maximum total supply of 21 million, which means that there can only be 21 million in circulation. However, the number of issued Bitcoins will likely never reach 21 million. That is because of the use of rounding operators in the codebase.
You can break a single Bitcoin down into 100 million tiny pieces called "satoshis." You can store them in a digital wallet. The current price of 1 BTC in EUR is € 57,958.44. But you do not need to buy a whole Bitcoin; you can buy a very small fraction of it.
You can send parts of a Bitcoin to pay for things. You can also trade it for other crypto assets. But when you dig into the technicalities, it's like peeling an onion—layer after layer of complexity.
All Bitcoin transactions happen on a blockchain. Think of it as a public digital ledger that everyone can see but no one can tamper with. Miners are the ones who validate and secure these transactions. They validate transactions by solving complex math problems and receive new bitcoins as a reward for their efforts.
Key Points to Remember
The fastest, most convenient way to purchase Bitcoin is to purchase it on ICONOMI. We check Bitcoin live prices on 10+ crypto exchanges and buy it at the best market price.
You can buy Bitcoin by adding it to your private Crypto Strategy (crypto portfolio). You can also use our recurring buy feature that tends to level out cryptocurrency price volatility effects. You can find out more about how to benefit from smaller investments at regular intervals on our blog article.
We recommend you do your own research and cryptocurrency analysis. Experienced crypto traders use fundamental and technical analysis to evaluate if Bitcoin is a good buy/sell. Fundamental and technical analyses are the two most common types of analysis used in trading traditional assets (e.g. stocks and bonds).
If you are unfamiliar with analyzing cryptocurrency prices and want to buy Bitcoin, we recommend you read the next section, as copying might be a better approach.
If you are not skilled at these, consider a different approach to investing in cryptocurrencies. You can learn from and copy seasoned crypto traders on ICONOMI who regularly share their insights and manage their public Crypto Strategies. Go to the strategies page and use the “ticker” filter to find out which public Crypto Strategies have Bitcoin in their structure.
Here you can read and comment on all posts made by Strategists about Bitcoin BTC. See all Bitcoin price predictions in real time and make the best use of their crypto knowledge.
1/6
Morning update:
Price-wise, nothing exciting happened. Consolidation continues as tourists are leaving the ship. Many are scared of what will happen next although the signs are there🤔This is simply a manipulation before the next impulsive move up🔮👀$BTC
2/6
Bitcoin exchange inflows are at their lowest level in nearly a decade. The last time we saw such a small amount of deposits was in January 2015 yet people are getting distracted by the price🤷♂️$BTC
4/6
Furthermore, Hong Kong ETF issuers are apparently discussing the “Stock Connect” program that would allow investor from mainland China to invest in their ETFs. Once completed, qualified investors in the Shenzhen Stock Exchange could invest in BTC ETFs via the Hong Kong Stock Exchange through ‘Stock Connect. Again, just a rumor but something that could happen in the coming months🤔 $BTC
5/6
Speaking about ETFs, yesterday was a low-flow day. Most ETFs saw zero inflows, leading to a small outflow day of 15 million. That being said, the new area of investors is slowly but surely getting ready to buy this new asset class. Yesterday, the CEO of Bitwise shared some alpha and posted a picture from a presentation that was given to nearly 1,000 of the largest advisors in the country🔥 $BTC
They all want to learn about Bitcoin and are getting ready to invest👇
6/6
Lastly, we got an interesting 13F filling. Susquehanna International Group ($481B AUM) invested $1,2 billion in spot BTC ETFs👀
While retail investors are panic selling, big financial institutions continue to accumulate💪$BTC
