$76,173.41

Bitcoin uses the SHA-256 hashing algorithm, part of the SHA-2 family, to secure its network. This algorithm is also employed by Bitcoin Cash, a fork of Bitcoin, and several other cryptocurrencies.

Bitcoin serves as a decentralized store of value, providing ownership rights similar to physical assets or units of account. However, this function is debated among enthusiasts and economists, with some believing widespread adoption could lead to a new financial system where transactions are denominated in smaller units. The smallest unit, 0.00000001 BTC, is called a Satoshi, named after the pseudonymous creator. Many view Bitcoin as digital gold, preferring to hold it long-term rather than spend it, treating it as a store of value rather than a payment method.

Bitcoin upgrades through forks. A hard fork is a non-backward-compatible protocol change, requiring all nodes to upgrade; it makes previously invalid blocks or transactions valid, and the old chain continues separately. A soft fork is backward-compatible, making only previously valid blocks or transactions invalid, and requires only a majority of miners to enforce new rules. Examples of cryptocurrencies that have undergone hard forks include Bitcoin Cash and others.

Taproot is a soft fork combining BIP 340, 341, and 342, aiming to enhance scalability, efficiency, and privacy. It introduces Merkelized Abstract Syntax Tree (MAST) and Schnorr Signatures. MAST allows senders and recipients to jointly sign transactions, while Schnorr Signatures aggregate multiple signatures into one, making multi-signature transactions look like regular ones. This can reduce transaction fees and support more complex applications, potentially laying groundwork for smart contracts on Bitcoin. While not immediately noticeable to regular users, Taproot could be a significant milestone for the network's future development.

The Lightning Network is an off-chain, layered payment protocol that uses bidirectional payment channels for instant transfers with immediate reconciliation. It enables private, high-volume, trustless transactions between parties, scaling transaction capacity without the costs of on-chain transactions and interventions.

Previously, public companies holding Bitcoin was considered unlikely due to volatility, with investors like Warren Buffett calling it a bubble. However, since 2020, several corporations have adopted Bitcoin. MicroStrategy led the way, buying $425 million worth in August and September 2020, and has since become the largest corporate holder, with 129,699 BTC as of August 30, 2022, worth over $2.5 billion. Other notable holders include Marathon Digital Holdings (10,054 BTC), Coinbase (9,000 BTC), Square Inc. (8,027 BTC), and Hut 8 Mining Corp. (7,078 BTC).

Bitcoin has become increasingly political, especially after El Salvador adopted it as legal tender in September 2021, a decision made by President Nayib Bukele despite criticism from various institutions. He has also proposed Bitcoin City, powered by geothermal energy. Other countries like Mexico and Russia have been speculated but not followed suit. Conversely, China declared all crypto transactions illegal in May 2021, leading to a crackdown on mining, forcing businesses to relocate. Despite this, China remains a significant player in the industry, according to University of Cambridge data.

Bitcoin's price is highly volatile and changes constantly, as it is a global asset. Starting from under a cent, its value has increased significantly. Prices can vary by country and exchange, so the exact value depends on location and time. Understanding Bitcoin's price requires real-time data, as it fluctuates by the minute.

Bitcoin is available on virtually all cryptocurrency exchanges, both for fiat and other cryptocurrencies. Major markets include Binance, Coinbase Pro, OKEx, Kraken, Huobi Global, and Bitfinex. For beginners, educational resources like Alexandria can guide you on how to start buying Bitcoin and other cryptocurrencies.