Bitcoin, introduced in 2009 by an anonymous entity known as Satoshi Nakamoto, is the first and most well-known cryptocurrency. It operates on a peer-to-peer network, allowing users to send and receive payments without the need for intermediaries like banks. Transactions are recorded on a public ledger called the blockchain, which is a chain of blocks containing transaction data.

The unique feature of Bitcoin lies in its limited supply. There will only ever be 21 million Bitcoins, making it a deflationary asset.