Bitcoin – A decentralized digital currency that operates on a technology called blockchain, allowing direct, peer-to-peer financial transactions without the need for intermediaries like banks. Created in 2009, Bitcoin has a capped supply of 21 million coins, making it a deflationary currency by design. It’s recognized for its use of cryptography for security and its potential as a store of value, medium of exchange, and unit of account. Unlike traditional currencies, Bitcoin is not issued by any central authority, which gives it the characteristics of being censorship-resistant and geographically unrestricted. Bitcoin is commonly abbreviated as BTC when referred to in financial contexts, transactions, or as a unit of account.