Why buy Bitcoin (BTC)
You can choose to buy Bitcoin because it is the first cryptocurrency ever created and the first project to have successfully applied blockchain technology. Bitcoin was created neither by a government nor a bank, its blockchain is completely decentralised.
Thanks to its strong performance in recent years, BTC is establishing itself as a store of value. This is why buying Bitcoin could be the right move to protect one’s savings from inflation, a phenomenon that fiat currencies are subject to.
What is Bitcoin and how it was born
BTC is the first blockchain-based currency and the first application of this revolutionary technology. Its peculiarity and what distinguishes it from other currencies is that it circulates on a decentralised system that does not require intermediaries to function.
The security and manner in which each BTC is issued is programmed and guaranteed by cryptographic systems and algorithms that define its consensus mechanism. Crypto has opened the door to a technological revolution of such magnitude that it can be compared to the one set in motion by the Internet in ’94. This is why, especially in bear market phases like the current one, in which prices are more ‘affordable’, many are thinking of buying Bitcoin.
How was Bitcoin developed? By convention, its date of birth is 31 October 2008, the day the protocol was published. However, its creator – Satoshi Nakamoto – had already been working on the project for some time. On 18 August of the same year, the domain bitcoin.org was registered.
On 3 January 2009, Satoshi himself mined the first block of Bitcoin, and on 9 January, the first version of the client was released. But who is Satoshi Nakamoto? The name is a pseudonym and the identity of the creator is unknown. In 2011, Satoshi erased any trace of himself, after publishing one last post on the BitcoinTalk forum.
People, however, continued to buy Bitcoins, both in bullish phases, driven by enthusiasm, and in bearish ones, with the main purpose of protecting their monetary value from inflation.
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