What is Bitcoin (BTC)?
Bitcoin is a decentralized digital currency launched in 2009 by the pseudonymous Satoshi Nakamoto. It runs on a public blockchain validated by a global network of miners using proof-of-work consensus. Bitcoin has a fixed supply cap of 21 million coins, with new coins issued at a programmatically declining rate that halves approximately every four years (the "halving").
Why it matters for investors
Bitcoin is the bellwether of the broader crypto market โ when BTC moves, altcoins typically follow. Institutional adoption (spot Bitcoin ETFs, corporate treasuries, sovereign reserves) has progressively integrated BTC into traditional portfolios. For macro-aware investors, Bitcoin's correlation with risk assets (and occasional decoupling) makes it a barometer of liquidity conditions, dollar strength, and risk appetite.