Bitcoins are not backed by any government. Hello, isn’t that the point? Gold and silver aren’t backed by any government either (although they used to be used to back the now truly “virtual” currencies that are only backed by armies and constitutions, which history shows have been known to fail).
Craig Wright. Satoshi Nakamoto is the name used by the presumed pseudonymous person or persons who developed bitcoin, authored the bitcoin white paper, and created and deployed bitcoin's original reference implementation. As part of the implementation, Nakamoto also devised the first blockchain database.
Two years ago today, Bitcoin hit its highest price ever, reaching $19,783. It was the culmination of an incredible year for the digital currency, which had started 2017 at about $1,000.
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