What is Bitcoin (BTC)?
In 2008, a pseudonymous programmer named Satoshi Nakamoto published a 9-page document outlining a new decentralized, digital currency. They called it Bitcoin. Bitcoin is by far the world’s most popular cryptocurrency–it’s become a household name for crypto, similar to what Kleenex is for tissues. But did you know that it plays a growing role in the philanthropic space? As mainstream adoption drives up Bitcoin’s value, many of its investors are donating a chunk of their investments to charities and nonprofits, fueling social causes around the world.
Who Invented Bitcoin?
When Bitcoin was created in 2009 by an individual (or group of people) using the pseudonym Satoshi Nakamoto, only a handful of enthusiasts understood its potential to revolutionize the way people think about and execute financial transactions.
As Nakamoto outlined in an eight-page whitepaper, Bitcoin is a peer-to-peer system for sending payments that was not reliant on a financial institution. Its primary functions depend on two technological concepts that had been in development since the late 20th Century, blockchain and decentralized currency. Neither concept had been fully realized in a practical application until Nakamoto fused them together under the system he would call “Bitcoin.”
Why Does Bitcoin Matter?
In broad terms, the launch of Bitcoin was the big bang that created the entire cryptocurrency universe. Today, the crypto market plays host to countless decentralized currencies that utilize blockchain technology. Sitting atop the heap is Bitcoin, which remains the most valuable cryptocurrency.
Every informed person needs to know about Bitcoin because it might be one of the world’s most important developments.
Donate Bitcoin to Support a Charitable Organization
Did you know that donating cryptocurrency is a highly tax-efficient form of giving that also supports mainstream crypto adoption? Even donating a small portion of your crypto can make a major difference in helping a cause that you’re passionate about.
We’re on a mission to make crypto one of the greatest forces for good. That’s why The Giving Block can process charitable donations in hundreds of cryptocurrencies.
Now that you know more about Bitcoin, learn how you can donate BTC to thousands of nonprofit organizations via The Giving Block’s crypto donation platform.