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How much is bitcoin cryptocurrency today

Bitcoin was the first cryptocurrency to hit the market.. Devised by Satoshi Nakamoto in 2008, this digital currency promoted a libertarian ideal and sought to put traditional monetary and financial institutions in check after the global financial crisis that occurred that year.

The bitcoin (BTC) uses cryptography to ensure that its operations are not regulated by any banking institution or body, which in turn has put the currency in the middle of a debate about its volatility, since it does not require third parties has been accused of facilitating illegal activities such as fraud.

It was on January 3, 2009 when bitcoin finally went live. with a batch of 50 coins known as “the genesis block”mined by his own Satoshi Nakamoto. According to the official record, there are currently 19.13M bitcoins in circulation.

Although this cryptocurrency was worth almost nothing in its beginnings, it did not take long to reach the barrier of 1,000 dollars and began to attract the attention of financial institutions; however, a hack to the MtGox platform, where up to 80% of the units in circulation were exchanged, caused a sharp drop in its value.

The bitcoin has come to be worth up to 68789.63 dollarsalso influenced by comments from characters such as Elon Musk, which has made it the most important cryptocurrency despite the fact that organizations such as the World Bank, the International Monetary Fund (IMF) and the Inter-American Development Bank (IDB) do not see it as an alternative.

Despite skepticism, there are those who have bet on bitcoin: El Salvador became the first country to adopt this cryptocurrency as legal currency on June 9, 2021 and Honduras Prospera, a Central American special autonomous zone, has also done the same.

bitcoin cryptocurrency
The keys of bitcoin. (Illustration: Anayeli Tapia)

Bitcoin cryptocurrency price

Hour: 1:00 p.m. (UTC time)

Price : 21448.36 dollars

Change in the last 24 hours: -8.74%

Change in the last hour: -0.27%

Popularity by capitalization: #1

What are cryptocurrencies and how do they work?

cryptocurrencies
(Photo: File)

Virtual currencies are digital currencies that do not physically exist and, unlike currencies such as the dollar, the euro or the peso, they are not regulated by any institution and do not require intermediaries in transactions.

For this reason, they are regularly not viewed favorably by the formal market and are accused of being unreliable, volatile, promoting fraud, not having a legal framework that supports their users, and allowing the operation of illegal activities, among others.

However, little by little they have opened the way to such a degree that companies, millionaires and even governments have encouraged or legalized their use.

These cryptocurrencies work through cryptographic encryption that guarantees the security of transactions, as well as the control of the creation of its units. To make transactions, cryptocurrencies use a decentralized database, blockchain, or shared ledger.

Currently there are different cryptocurrencies in this unregulated market, however, the pioneer was Bitcoin, created in 2008, with it others such as litecoin, ethereum, bitcoin cash, ripple, dogecoinsome of the most popular.

One of the richest men in the world, Elon Muskhas made comments in favor of cryptocurrencies such as bitcoin and dogecoin, even temporarily accepting the digital currencies at his electric car company Tesla, which has triggered an increase in its value.

In The Savior, President Nayib Bukele legalized bitcoin, being the first country to do so. In the case of Mexico, one of the wealthiest businessmen in the country, Ricardo Salinas Pliego, has made public his intentions to accept cryptocurrencies in his companies, one of his main ones -the Elektra store- already does so. For his part, the president of Argentina, Alberto Fernández, has suggested using its use to combat inflation. Even in Peruthe Central Reserve Bank warned that it was working on its own digital currency project.

Where to buy cryptocurrencies?

“cryptocurrencies
A worker helps a man with the use of bitcoin in front of an ATM of “Chivo”, the digital wallet backed by the Salvadoran government, in San Salvador, El Salvador. September 8, 2021. (Photo:REUTERS/Jose Cabezas)

To buy any of the cryptocurrencies that are in this unregulated market, you must go to specialized websites.

It is worth mentioning that the value of each of these digital currencies depends on supply and demand, as well as the commitment of the users themselves, which can cause abrupt changes.

This means that the more people are interested and want to get hold of any cryptocurrency, the higher its price will be and vice versa.

However, whoever invests in this type of digital currency must be very clear that this form brings with it a high risk to capitaljust as there may be an increase, it can also have an unexpected crash and end the savings of its users.

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