BTC

Bitcoin price

BTC
|
4.4/5
CyberScope
4.9
04/24/2024
TokenInsight
3.9
01/10/2023
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
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$63,652.70
-0.98%
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Bitcoin price live data

The current price of Bitcoin is $63,652.70. Since 00:00 UTC, Bitcoin has decreased by -0.97%. It currently has a circulating supply of 19,689,981 BTC and a maximum supply of 21,000,000 BTC, giving it a fully diluted market cap of $1,251.28B. At present, Bitcoin holds the 1 position in market cap rankings. The Bitcoin/USD price is updated in real-time.

Bitcoin price performance in USD

Time periodChange amount%Chg
Today-$626.40 -0.98%
7 days$1,842.90 +2.98%
30 days-$7,241.00 -10.22%
3 months-$7,633.30 -10.71%

Bitcoin market information

24h low/high
The highest, lowest, and last prices in 24 hours
24h low$63,334.00
Last price $63,652.70
24h high$66,724.30
Heat index ranking
1
Market cap ranking
1
Market cap
$1,251.28B
Favorited rate
Percentage of users who favorited this asset to all users
99.99%
All-time high
$73,787.10
-13.74% (-$10,134.40)
Mar 14, 2024 (1 month ago)
All-time low
$67.8100
+93,769.19% ($63,584.89)
Jul 6, 2013 (11 years ago)
ICO date
10/31/2008
ICO price
The price at which this crypto was first traded
$0.0025000
Circulating supply
The amount of this crypto that is publicly available in the market
19,689,981 BTC
Market cap at circulating supply
Market cap = Circulating supply × Last price
$1,334.54B

About Bitcoin (BTC)

Bitcoin (BTC) is a virtual currency and a decentralized payment system that's free from the centralized control of a government or other entities. It was created in 2008 by an anonymous person or group of people known by the pseudonym Satoshi Nakamoto.

Bitcoin and the revolutionary blockchain technology underpinning it are considered the catalyst for the flourishing cryptocurrency industry we know today. Bitcoin is currently the largest cryptocurrency by market capitalization.

How does Bitcoin work?

Bitcoin is entirely digital and operates on a decentralized blockchain network — a virtual public ledger that records all transactions made on the Bitcoin blockchain. Bitcoin transactions are sent electronically to nodes that verify their validity. Once confirmed, a transaction is grouped with others to create a 'block' of information, which is then added to the blockchain. This process is known as Proof of Work, and it helps to protect the network's security.

The blockchain ledger is immutable, making it virtually impossible to be removed or altered. The ledger is freely accessible to anyone and transactions can be made anonymously, bringing privacy and transparency to the network. Being decentralized, Bitcoin can be traded freely between anyone with an internet connection through peer-to-peer (P2P) trading.

Who created Bitcoin?

Bitcoin was created by the individual or collective group known as Satoshi Nakamoto as a response to ‌perceived issues with the traditional banking system. Bitcoin was launched immediately after the global economic crash of 2007 and 2008, and its purpose was revealed to the world through a white paper titled Bitcoin: A Peer-to-Peer Electronic Cash System. Ultimately, Bitcoin was designed to help create a fairer, more equitable, and more democratic financial system for all — free from the control of banks and centralized entities.

Over the years, various figures have claimed to be Bitcoin's creator, and some media titles have incorrectly identified individuals as such. But, to this day, Nakamoto's true identity has never been revealed.

What is Bitcoin used for?

Bitcoin is considered by many to be a store of value, which is why some refer to the asset as "digital gold". The currency also provides a decentralized payment system through which other digital assets can be traded and transferred.

Bitcoin is widely traded speculatively, and is growing in adoption as a form of payment for goods and services. What's more, some companies allow their employees to be paid a portion of their salary in Bitcoin. Many people see Bitcoin as a hedge against inflation, given its historical resilience and alleged outperformance during inflationary periods.

Bitcoin price and tokenomics

Part of the uniqueness of Bitcoin comes from the fact that its value is determined by the collective opinion of the community. Where fiat currencies are backed by physical commodities or government guarantees, Bitcoin is simply backed by data and shared beliefs.

Bitcoin's price and value is also influenced by the demand for the asset relative to its available supply. From the asset's inception, its supply was limited to 21 million Bitcoin to create scarcity and theoretically increase the asset's value over time as demand increases. Factors outside of Bitcoin's controlled supply and scarcity also have an impact on its value. One major factor is the sentiment surrounding Bitcoin news and how it influences public opinion to either buy or sell the asset.

The supply of total Bitcoin is managed by a process known as 'mining', which is also decentralized and open to anyone with the required connectivity, knowledge, and resources. BTC mining involves using computers to solve complex equations to validate transactions and store them on the blockchain. Miners earn Bitcoin as a reward for solving these equations. Not only does this incentive increase the supply of Bitcoin, it also helps to strengthen the network's security.

What is the Bitcoin halving?

Bitcoin's code has been deliberately designed to reduce the rewards given to miners through an event known as Bitcoin halving. The amount of Bitcoin awarded to miners for successfully adding blocks to the blockchain is reduced by half after every 210,000 blocks, or approximately every four years. To date, the Bitcoin network has witnessed a halving event in November 2012, July 2016, and May 2020, with the next Bitcoin Halving expected during April 2024. The Bitcoin halving progressively reduces the rate at which new BTC enters circulation until the total fixed supply of 21 million Bitcoin is mined. Following the next halving event in 2024, the mining reward will be cut from 6.25 BTC to 3.125 BTC.

How to trade Bitcoin

There are numerous ways to acquire and trade Bitcoin, and one of the most common is through an exchange. Although Bitcoin was built on the idea of decentralization, what's known as a centralized exchange provides access to the currency. On a centralized exchange, you can purchase Bitcoin using traditional currencies such as USD and EUR, or using other cryptocurrencies include USDC or ETH. Alongside providing an avenue to purchase Bitcoin, centralized exchanges also match buyers to sellers so you can trade Bitcoin with ease.

Decentralized exchanges are an alternative to centralized services. On a decentralized exchange, buyers and sellers interact directly without the involvement of an intermediary to trade cryptocurrencies. This is known as P2P. Although decentralized exchanges may be hosted by a centralized entity, it has no influence over the transactions between users, and only provides the platform for exchanges to take place.

Alongside the trading of Bitcoin for other digital assets, it's possible to obtain Bitcoin through mining and also via Bitcoin ATMs. Like a conventional ATM but one that's connected to the blockchain, Bitcoin ATMs allow you to effortlessly exchange BTC for cash or cash for BTC.

Latest Bitcoin news

2024 has been a noteworthy year for Bitcoin. One major development for the currency came with the approval of a Spot Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC), which was announced on January 10, 2024. Eleven proposals from issuers including Grayscale, Blackrock, ARK, and VanEck were approved, marking a major shift towards the mainstream adoption of Bitcoin.

Around three months after the approval of the Spot Bitcoin ETF, the virtual currency will experience its fourth Bitcoin Halving since launch, which is due to happen during April 2024. The Bitcoin Halving will cut the reward granted to miners on the Bitcoin network from 6.25 BTC to 3.125 BTC. There's much speculation around the impact the Bitcoin Halving event will have on the asset's price. Historically, Bitcoin's value has experienced a major spike in the months following the halving event. Following the last halving on May 11, 2020, Bitcoin's price jumped from $8,821 to $10,943 in the 150 days from May 11, 2020.

Events such as the Spot Bitcoin ETF approval, the upcoming halving event, and bullish sentiment for the crypto market broadly helped Bitcoin to reach a new all-time high price of $73,787 on March 13, 2024.

BTC FAQ

Who created Bitcoin?
Bitcoin was created by an individual or group of people known only as Satoshi Nakamoto. Despite much interest, media speculation, and claims, the exact identity of Satoshi Nakamoto has never been revealed. Nakamoto withdrew from the Bitcoin project in 2010 and shared their last public email in 2011.
How can I use Bitcoin?

Bitcoin can be used to purchase online and offline goods and services. It is accepted by over 15,000 businesses, including Microsoft, Starbucks, Newegg, AT&T, Subway, and Burger King.

Additionally, Bitcoin can be sent directly between users without intermediaries, making it a faster, cheaper, and more secure payment method than traditional options like credit cards or bank transfers.

Beyond Bitcoin’s purpose as a means of exchange, it can also be held long-term for potential returns.

Is Bitcoin accepted as legal tender?

Currently, Bitcoin is accepted as legal tender in two countries: El Salvador and the Central African Republic (CAR). These nations have embraced Bitcoin as an official currency, with El Salvador leading the way in this adoption.

How to buy Bitcoin?

Easily buy BTC tokens on the OKX cryptocurrency platform. Available trading pairs in the OKX spot trading terminal include BTC/USDT, BTC/USDC, and BTC/DAI.

You can also buy BTC with over 99 fiat currencies by selecting the "Express buy" option. Other popular crypto tokens, such as Ethereum (ETH), Tether (USDT), and USD Coin (USDC), are also available.

Alternatively, you can swap your existing cryptocurrencies, including XRP (XRP), Cardano (ADA), Solana (SOL), and Chainlink (LINK), for BTC with zero fees and no price slippage by using OKX Convert.

Another way you can purchase BTC tokens is via the OKX P2P Trading platform. P2P trading allows users to buy and sell cryptocurrencies directly from other users without needing a middleman.

To view the estimated real-time conversion prices between fiat currencies, such as the USD, EUR, GBP, and others, into BTC, visit the OKX Crypto Converter Calculator. OKX's high-liquidity crypto exchange ensures the best prices for your crypto purchases.

How can I access Bitcoin?

Bitcoin can be purchased through a centralized exchange such as OKX using fiat currency or other cryptocurrencies, or purchased directly from another individual via a decentralized exchange. If you already hold a cryptocurrency such as ETH, SOL, or USDT, you can also trade this for Bitcoin via a decentralized exchange.

Bitcoin can be obtained by mining the asset, which requires specialized knowledge and the necessary hardware and software. Meanwhile, Bitcoin can be purchased through a physical Bitcoin ATM, although they’re not as widely used as exchanges.

Is it safe to trade Bitcoin?

Bitcoin trading does come with some risks, including cybersecurity threats and the potential loss of your funds if the price of Bitcoin falls. It’s important to remember that cryptocurrencies are a volatile asset and prices can fluctuate unexpectedly.

With Bitcoin trading taking place across digital platforms, there’s the risk of fraud, scams, and hacks. However, the leading exchanges put in place measures to protect users from these threats. There’s also plenty you can do to protect yourself as a crypto trader, such as by using two-factor authentication and diligently protecting your wallet’s private keys and seed phrases.

Will the price of Bitcoin always rise?
Put simply, no. Bitcoin is a volatile asset that regularly sees price fluctuations. Although the price of Bitcoin has risen significantly in the past, this is no guarantee of future performance. It’s important to keep in mind that the trading of cryptocurrencies is purely speculative, which is why you should never trade with more than you can afford to lose.
Are Bitcoin and other cryptocurrencies illegal?
The legal status of cryptocurrencies is different across countries. Crypto is illegal in some nations, while others have embraced the technology and put in place regulations to manage the industry and protect users. Before you attempt to trade, it’s wise to first research what the law states regarding the ownership and trading of cryptocurrencies and other digital assets.
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