What is Bitcoin?

With extensive experience as an electrical/software/coding engineer along with having a diverse financial background, Thomas Wettermann’s areas of interest include Machine Learning (ML), artificial intelligence (AI), and Financial Technology (FinTech). For the past few years, Thomas Wettermann has focused on the underlying technologies that support and promote all phases of cryptocurrency, Web 3.0, and metaverse ecosystems.

Bitcoin (source: newscientist.com)

Is Bitcoin an Actual Coin?

The image above constitutes a physical representation of Bitcoin. But these coins do not physically exist. You cannot carry around a Bitcoin in your pocket or your wallet since it is not a physical “coin.” Rather, Bitcoin is a virtual coin oftentimes referred to as digital currency. It exists virtually in the form of computer code that resides on a publicly available computerized ledger called a blockchain.

How Popular is Bitcoin?

Bitcoin (BTC) is the most recognized cryptocurrency while it is also the number one cryptocurrency based on market capitalization. For example, the live Bitcoin price today is $43,557 USD while Bitcoin has experienced a 24-hour trading volume of $36.2B USD. The current CoinMarketCap ranking of Bitcoin is #1, with an active market capitalization of $826B USD.

Currently, Bitcoin has a circulating supply of 19M BTC coins. Unlike certain other cryptocurrencies, Bitcoin’s circulating supply is capped as it has a maximum supply of only 21M BTC coins. Based on present-day calculations, Bitcoin will cease issuing new coins in 2140.

All the views expressed on this site are those of Thomas Wettermann and do not represent the opinions of any entity with which Thomas Wettermann has been, is currently, or will be affiliated.

Trading digital financial assets such as cryptocurrencies can carry a high level of risk, and may not be suitable for all investors. Before deciding to invest, purchase, and/or trade cryptocurrency you should carefully consider your investment objectives, level of experience, adversity to risk, and volatilities. The possibility exists that you may sustain a loss of some or all of your initial investment; therefore, you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency trading, and seek advice from a qualified and independent financial advisor.

Thomas Wettermann is not an independent financial advisor. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as a general market commentary of Thomas Wettermann and does not constitute investment advice. Thomas Wettermann will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. All opinions expressed on this site are owned by Thomas Wettermann and should never be considered as advice in any form.