FinTech Magazine December 2023 | Page 61

Bitcoin

Bitcoin

Market cap : US $ 561.3bn
Topping our list of the top 10 cryptocurrencies by market capitalisation is , unsurprisingly , Bitcoin , with a gargantuan valuation of US $ 561.3bn . Invented in 2008 by an unknown individual or group using the pseudonym Satoshi Nakamoto , Bitcoin has been described as its own economic bubble by recipients of the Nobel Memorial Prize in Economic Sciences , and has also become synonymous with ‘ crypto ’. Built on open-source code ,
Bitcoin is a public-domain platform as well as a digital asset within its own class . Today , Bitcoin ’ s platform is the largest computer network on earth and offers tools , products and services to the public in order to manage , buy and trade their crypto assets . In 2021 , El Salvador adopted Bitcoin as a legal tender and , more recently , Ukraine has been accepting Bitcoin donations to fund its resistance against the Russian invasion . fintechmagazine . com 61