Bitcoin: The world's first and largest payment network
Bitcoin is the world's first and largest cryptocurrency by market capitalization — a peer-to-peer electronic cash system created by the pseudonymous Satoshi Nakamoto.
Bitcoin corporate snapshot
Bitcoin is a decentralized open-source protocol with global operations. Here is the verified corporate and market data.
Bitcoin payments, and acceptance
An in-depth technical and economic overview of Bitcoin, built for developers, consumers, and financial professionals.
Blockchain Network
The decentralized, distributed public ledger that records every Bitcoin transaction in history. Verified by 18,000+ nodes worldwide running the Bitcoin Core software.
- Proof-of-work consensus (SHA-256)
- 10-minute average block time
- ~3,500 transactions per block capacity
- 51% attack resistance via mining distribution
Self-Custodial Wallets
Software that holds your private keys and lets you send/receive BTC without an intermediary. You are your own bank.
- Hardware wallets (Ledger, Trezor, Coldcard)
- Mobile wallets (Phoenix, Breez, Muun)
- Desktop wallets (Electrum, Sparrow, Bitcoin Core)
- BIP-39 seed phrases for backup/recovery
Custodial Wallets & Exchanges
Third-party services that hold your BTC for you. Easier to use but requires trusting the custodian.
- Coinbase (NASDAQ: COIN) — US-regulated, FDIC-insured USD balances
- Kraken — oldest US exchange (2011)
- Cash App (Block, Inc.) — consumer-friendly mobile
- Binance — largest by volume globally
Merchant Payment Processors
Hosted services that let eCommerce stores accept Bitcoin without managing wallets or private keys.
- Coinbase Commerce — 1% fee, USD or BTC settlement
- BitPay — 1% fee, multi-crypto support
- BTCPay Server — self-hosted, zero fees, non-custodial
- OpenNode — 1% fee, Lightning Network support
Lightning Network (Layer 2)
Second-layer payment protocol built on top of Bitcoin for instant, near-zero-fee transactions. Critical for retail payments.
- Sub-second settlement
- Fees typically < $0.01 per transaction
- 5,000+ BTC public channel capacity
- Enables microtransactions and streaming payments
Spot Bitcoin ETFs
Exchange-traded funds that hold actual Bitcoin, giving traditional investors regulated exposure without managing private keys.
- BlackRock IBIT (largest, $40B+ AUM)
- Fidelity FBTC
- Ark 21Shares ARKB
- Grayscale GBTC (largest by history)
Bitcoin price history
Live BTC/USD price chart with 1-day, 1-week, 1-month, 1-year, and 5-year history. Data from CoinGecko.
The Bitcoin whitepaper
Download the original 9-page paper that started it all — "Bitcoin: A Peer-to-Peer Electronic Cash System" by Satoshi Nakamoto, October 31, 2008.
Bitcoin: A Peer-to-Peer Electronic Cash System
By Satoshi Nakamoto · Published October 31, 2008 · 9 pages · 184 KB
Bitcoin history & milestones
Key milestones from inception to the present day.
The Bitcoin Whitepaper
On October 31, 2008, during the global financial crisis, an anonymous person/group using the pseudonym Satoshi Nakamoto publishes "Bitcoin: A Peer-to-Peer Electronic Cash System" to a cryptography mailing list. The 9-page paper proposes a solution to the double-spending problem using a distributed timestamp server and proof-of-work.
Genesis Block Mined
On January 3, 2009, Satoshi mines the Genesis Block (Block 0) — the first block in the Bitcoin blockchain. Embedded in the coinbase parameter is the headline from that day's Times of London: "Chancellor on brink of second bailout for banks." Bitcoin's first transaction follows on January 12, 2009 when Satoshi sends 10 BTC to Hal Finney.
First Real-World Transaction
On May 22, 2010, programmer Laszlo Hanyecz pays 10,000 BTC (~$41 at the time, $1.3 billion at June 2026 prices) for two Papa John's pizzas. This date is now celebrated annually as "Bitcoin Pizza Day." Bitcoin's first block reward halving occurs November 28, 2012 (50 → 25 BTC).
Mainstream Recognition
Bitcoin surpasses $1,000 for the first time in November 2013. The SEC warns about potential fraud, and the People's Bank of China prohibits Chinese financial institutions from handling Bitcoin transactions — foreshadowing the regulatory headwinds to come.
ICO Boom & First $20K
Bitcoin reaches $20,000 in December 2017 amid a massive ICO boom. Coinbase adds 100,000 users per day. The Lightning Network is proposed as a Layer 2 solution for scaling. CME and CBOE launch the first Bitcoin futures contracts.
El Salvador Legal Tender
On September 7, 2021, El Salvador becomes the first country to adopt Bitcoin as legal tender alongside the US dollar. Bitcoin reaches an all-time high of $69,000 in November 2021. Taproot upgrade activates November 14, 2021, improving privacy and smart-contract capabilities.
Spot Bitcoin ETFs Approved
On January 10, 2024, the SEC approves the first 11 spot Bitcoin ETFs, opening the door for trillions in institutional capital. April 2024 halving reduces block reward from 6.25 to 3.125 BTC. Bitcoin reaches new all-time highs above $100,000 in December 2024.
$130K+ & Institutional Adoption
Bitcoin trades above $130,000 with over $50 billion in spot ETF assets under management. Corporate treasuries hold 4%+ of total supply. The Lightning Network processes millions of daily transactions. Bitcoin's market cap exceeds $2.5 trillion, making it one of the largest assets in the world.
Bitcoin questions answered
What is Bitcoin and how does it work?
Bitcoin is a decentralized peer-to-peer electronic cash system created by the pseudonymous Satoshi Nakamoto in 2009. It uses a distributed public ledger (blockchain) secured by proof-of-work mining to verify transactions without a trusted third party. The network runs 24/7 globally with 18,000+ reachable nodes validating transactions.
Who controls Bitcoin?
No one. Bitcoin is an open-source protocol governed by its community of developers, miners, and users. There is no CEO, no board, no parent company. The protocol's rules are enforced by consensus among network participants — making it the most censorship-resistant monetary network ever deployed.
How many Bitcoin will ever exist?
21 million. This hard cap is enforced by the Bitcoin protocol and cannot be changed without overwhelming consensus. As of June 2026, approximately 19.69 million BTC have been mined, with the remaining 1.31 million to be issued over the next 116 years through block rewards that halve every four years.
How do I accept Bitcoin payments on my eCommerce store?
You have three options: (1) a hosted payment processor like Coinbase Commerce or BitPay — easiest, custodial, 0.5-1% fees; (2) a self-custodial wallet like BTCPay Server — non-custodial, free, requires a Bitcoin node; (3) direct wallet-to-wallet — for technical teams only. Most merchants start with Coinbase Commerce or BitPay and migrate to BTCPay Server as volume grows.
Is Bitcoin a good payment method for merchants?
Pros: zero chargebacks, lower fees (typically 0.5-1% vs. 2.5-3.5% for cards), no merchant account needed, global reach, new customer demographic. Cons: price volatility, slower settlement (10-60 min confirmation), regulatory uncertainty in some jurisdictions, taxable event on receipt in most countries. Best fit: international eCommerce, digital goods, high-value transactions, and crypto-native customer bases.
What is the Bitcoin halving?
Every 210,000 blocks (~4 years), the block reward miners receive is cut in half. The most recent halving was April 2024, reducing the reward from 6.25 BTC to 3.125 BTC per block. The next halving is expected around April 2028. Halvings reduce new supply issuance and historically precede major bull cycles.
How is the Bitcoin price determined?
Bitcoin's price is determined by supply and demand on global exchanges (Coinbase, Binance, Kraken, etc.) 24/7. It is influenced by macro factors (interest rates, inflation), regulatory news, adoption events (ETF inflows, corporate treasury purchases), and market sentiment. Major price drivers include spot Bitcoin ETF flows (~$50B+ AUM), institutional treasury adoption (MicroStrategy, Tesla, etc.), and the 4-year halving cycle.
What is the Bitcoin whitepaper?
"Bitcoin: A Peer-to-Peer Electronic Cash System" was published on October 31, 2008 by Satoshi Nakamoto. The 9-page paper proposed the solution to the double-spending problem using a peer-to-peer network and proof-of-work. It is one of the most important technical documents of the 21st century and the foundation of the entire cryptocurrency industry. Download the original PDF →
Accept Bitcoin on your store today
Bitcoin acceptance unlocks a new customer demographic, lower fees, zero chargebacks, and global reach. 5 Kings Marketing can integrate BTC payments into your eCommerce stack in days.
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