Bitcoin is a type of currency that can only be used and stored electronically; it is new payment system. It remains in digital form as a type of money referred to as cryptocurrency, it is never printed but is created by people and businesses using special computer software.
The company was announced in 2008 by Satoshi Nakamoto who later left in mid-2010. Satoshi allowed Bitcoin to be very public, where the software and company codes can be accessed by any person across the world. This made it an open source company, encouraging users to trust in it thereby making Bitcoins popular and valuable.
