Updated on February 14, 2020
It was Mr. Satoshi Nakamoto who for the first time introduced in 2008 something called Bitcoins. Bitcoins are sort of mathematics-based currency which in a word termed as Cryptocurrencies.Bitcoins are fundamentally computed with the process of mining that involves a computer that solves a mathematical problem it is termed as Cryptocurrency. A block of Bitcoin is processed each time the problem is solved and it requires a solution of 64- digit. Currently, 15 million Btc is present. Mathematically Bitcoins help in reducing the uncertainty of money flow in the system. Products, Services can be exchanged with Bitcoins.
Bitcoin as an Investment Tool
Bitcoins are marked as one of the best investment tools. Out of all, around 1% of the total Bitcoins were owned by Washington Post. And in 2013 it was Forbes who termed Bitcoins as one of the best Investment tools. Along with other cryptocurrencies Bitcoins also showed a positive growth after 2017. In 2016 Bitcoins’ price has risen from Rs 450 to Rs 19000 and thus became the target investment item of every investor.
Indian Investors reported in late 2017 that they earned a huge profit only from their Btc and its drastic price rise. To make Bitcoin an investment tool, after it hit 21 million units no more Bitcoins were further introduced. As a result, the demand increases, supply decreases and the price of such increased over time.
And the value of Bitcoins is also increasing eventually as people have started accepting Bitcoins as their medium of exchange.