Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. It was invented by an unknown person or group of people using the name Satoshi Nakamoto and was released as open-source software in 2009.

Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin operates on a decentralized, open-source technology and is not subject to government control.

The total supply of Bitcoin is limited to 21 million, of which more than 18 million have already been mined. Bitcoin is often referred to as a cryptocurrency, which is a digital or virtual currency secured through cryptography. The value of Bitcoin is highly volatile and has seen significant price swings since its inception.