Bitcoin Series II:

Main Features

- **Limited Supply**: The total amount of Bitcoin is permanently capped at 21 million coins, with its issuance rate controlled by a "halving" mechanism that occurs every four years, creating scarcity.
- **Anonymity**: Bitcoin transactions are publicly transparent, but the identities of the parties involved are anonymous, with transactions conducted solely through digital addresses.
- **Global Circulation**: Bitcoin can circulate freely around the world without being restricted by national borders, with fast transaction speeds and low fees.
- **Anti-inflation**: Due to its fixed supply, Bitcoin is considered to have anti-inflation characteristics and is regarded as "digital gold."

### Development History

- **Genesis Block**: On January 3, 2009, Satoshi Nakamoto mined the first block of Bitcoin, known as the Genesis Block, and received a reward of 50 Bitcoins.
- **Early Development**: Initially, the value of Bitcoin was negligible, primarily used for transactions between tech enthusiasts and geeks. In 2010, someone bought two pizzas for 10,000 Bitcoins, which is considered the first physical transaction with Bitcoin.
- **Price Volatility**: Bitcoin prices have experienced multiple dramatic fluctuations. In 2017, the price of Bitcoin soared to nearly $20,000, followed by a significant drop. In 2021 and 2024, the price of Bitcoin once again broke historical records, attracting the attention of global investors.
- **Institutional Recognition**: In recent years, an increasing number of institutional investors have begun to focus on and invest in Bitcoin, including hedge funds, insurance companies, and large enterprises. Some countries have also started to explore the legalization and regulatory framework of Bitcoin.