# Bitcoin: first ever crypto that’s only growing in influence

Bitcoin is a decentralized digital currency created in 2009 by an unknown individual using the name Satoshi Nakamoto. It is the first and most well-known cryptocurrency that enables secure peer-to-peer transactions on the internet, designed as an alternative to centralized financial networks after the 2008 crisis. (Read more in [our “Bitcoin 101” article](https://www.prosper-fi.com/news/bitcoin-101))

Bitcoin continues to reign as the most valuable cryptocurrency to date, solidifying its leading position as “digital gold”. 

* **Recognized store of value and a standalone asset class.** Bitcoin currently has a \~$1.3 trillion circulating market capitalization and dominates the cryptocurrency market by 53% \[1], solidifying its status as a standalone asset class
* **Mainstream penetration.** Spot BTC ETFs launched by major financial institutions such as BlackRock, Fidelity, VanEck, and Invesco in 2024 have driven mainstream Bitcoin adoption, attracting 1,110 institutional investors \[2] and \~$60 billion in AUM \[3]
* **Limited supply.** Bitcoin's scarcity is built-in, with a 21 million coin cap
* **Open-source and decentralized.** Bitcoin is an open-source, decentralized system lacking a public founder, allowing transparent development and user engagement to enhance security and resilience

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\[1] Messari; as of 30 Sep 2024

\[2] Bitwise; as of 20 Aug 2024

\[3] The Block; as of 24 Sep 2024