BTC

Bitcoin price

BTC
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4.5/5
Certik
4.8
07/13/2024
CyberScope
4.9
07/13/2024
TokenInsight
3.9
01/10/2023
The rating provided is an aggregated rating collected by OKX TR from the sources provided and is for informational purpose only. OKX TR 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 TR does not guarantee any return, repayment of principal or interest. OKX TR 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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USD
USD
$58,882.60
+1.68%
1h
24h
1W
1M
1Y
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Bitcoin price live data

The current price of Bitcoin is $58,882.60. Since 00:00 UTC, Bitcoin has increased by +1.68%. It currently has a circulating supply of 19,720,181 BTC and a maximum supply of 21,000,000 BTC, giving it a fully diluted market cap of $1,160.69B. 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$975.50 +1.68%
7 days$1,559.90 +2.72%
30 days-$7,575.50 -11.40%
3 months-$6,783.40 -10.34%

Bitcoin market information

24h low/high
The highest, lowest, and last prices in 24 hours
24h low$57,168.50
Last price $58,882.60
24h high$58,928.60
Heat index ranking
1
Market cap ranking
1
Market cap
$1,160.69B
Favorited rate
Percentage of users who favorited this asset to all users
99.99%
All-time high
$73,787.10
-20.20% (-$14,904.50)
Mar 14, 2024 (4 months ago)
All-time low
$67.8100
+86,734.68% ($58,814.79)
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
19,720,181 BTC
Market cap at circulating supply
Market cap = Circulating supply × Last price
$1,236.02B

About Bitcoin (BTC)

Bitcoin (BTC) is a revolutionary virtual currency that supports a decentralized peer-to-peer (P2P) payment system free from the centralized control of any government or entity. Bitcoin was created in 2008 by an anonymous person or group of people known by the pseudonym Satoshi Nakamoto.

Although Bitcoin wasn't technically the first cryptocurrency created, the asset and its ground-breaking blockchain technology are widely considered the catalyst for today's flourishing digital asset industry. 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, making it an open blockchain, 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 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.

Advancements to blockchain technology have brought about an evolution in what's possible on the Bitcoin network. The ordinals protocol, for example, now allows users to inscribe data such as videos, images, and text onto individual satoshis — the smallest unit of Bitcoin — on the Bitcoin blockchain. This created a new way of storing and sharing digital assets using blockchain technology. Then, in 2024, Bitcoin Runes arrived. The protocol allows users to create new tokens directly on the Bitcoin network, and potentially provides Bitcoin miners with a new revenue stream.

Bitcoin price and tokenomics

One unique factor of Bitcoin is that the BTC price and value is ultimately determined by the collective opinion and actions of the community that trades it. 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 the asset's controlled supply and scarcity also have an impact on BTC price. 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, May 2020, and 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. Bitcoin is expected to reach its maximum circulating supply around the year 2140. Since the latest halving event in 2024, the mining reward has been cut from 6.25 BTC to 3.125 BTC. The next Bitcoin halving is expected to take place at some point during 2028, although the exact date is difficult to estimate. Following the next Bitcoin halving, the block reward will be reduced to 1.5625 BTC.

Historically, the BTC price has rallied following halving events, although the gains made have diminished with each successive halving. The Bitcoin price jumped by over 12,400% following the first halving event in 2012, 5,200% after the 2016 halving, and 1,200% following the 2020 halving.

How to trade Bitcoin

There are many 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 including 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 even by using 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. This was followed by the approval of six further Spot Bitcoin ETFs in Hong Kong on April 30, 2024 as the funds reached retail traders in Asia for the first time.

Around three months after the approval of the Spot Bitcoin ETF in the U.S., the virtual currency experienced its fourth Bitcoin halving since launch, which happened on April 19, 2024. The Bitcoin halving 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 latest Bitcoin halving event will have on the asset's value, and it's still too early to assess how the 2024 halving will impact the Bitcoin price long-term.

Events such as the Spot Bitcoin ETF approval, the 2024 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. However, BTC prices pulled back as far as $56,825.40 on April 30, 2024, before reaching above $60,000 and entering a period of sideways movement.

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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 TR cryptocurrency platform. Available trading pairs in the OKX TR 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 TR Convert.

Another way you can purchase BTC tokens is via the OKX TR 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 TR Crypto Converter Calculator. OKX TR'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 TR 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.
How much is Bitcoin worth today?
Currently, one Bitcoin is worth $58,882.60. For answers and insight into Bitcoin's price action, you're in the right place. Explore the latest Bitcoin charts and trade responsibly with OKX TR.
What is cryptocurrency?
Cryptocurrencies, such as Bitcoin, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX TR and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Bitcoin have been created as well.