Bitcoin

Bitcoin is a digital currency, launched in January 2009. It is “mined” through an energy-intensive process using customised computer systems that compete to solve mathematical puzzles. Between December 2017 and December 2018 the value of a bitcoin fell from £14,799 to £2,500, before surging to nearly £50,000 in November 2021. By May 2022 it had dropped back again to less than £24,000. Despite its volatility it has gradually moved mainstream, with Tesla investing in the currency and PayPal facilitating transactions.