KARACHI – Bitcoin, the world’s largest cryptocurrency, was created in 2009 by an anonymous entity known as Satoshi Nakamoto. Bitcoin transactions are recorded on the blockchain, a public ledger that ensures transparency and security. The currency is mined through powerful computers solving complex mathematical problems and has gained popularity as both a store of value and a speculative investment.
Since Donald Trump’s election as U.S. president, Bitcoin has experienced substantial gains, driven by investor optimism regarding potential cryptocurrency-friendly policies. However, on December 6, Bitcoin experienced a downward trend, falling below $100,000 just a day after registering significant gains.
As of 10:39 AM PST, the value of Bitcoin stood at $97,807.31 according to live rates on the Binance website.
Bitcoin’s value in Pakistani Rupees has also seen a decline, reaching Rs27.219 million, after a 5.12% drop in today’s trading.
