Bitcoin Price Hits $106,509 Amid Rising Investor Interest
December:During today’s trading session, the price of Bitcoin reached **$106,509**, which, when converted into Pakistani Rupees, amounts to **PKR 2,955,924.45**.
Bitcoin has seen a significant price surge following the election of **Donald Trump** as the President of the United States. Investors are hopeful that the new administration will implement more favorable policies for cryptocurrencies.
Bitcoin is a virtual currency that is created using computer code. Unlike traditional currencies, it does not have a central bank and is not backed by any government. Instead, its user community controls and regulates it. Supporters argue that this independence from government policies makes Bitcoin an effective alternative to traditional currencies, as it is not subject to the whims of states attempting to devalue their currencies to boost exports.
Like other currencies, Bitcoin can be used for goods and services or exchanged for other currencies, provided the other party is willing to accept it.
Bitcoin was launched in 2009 as a secret software developed by an individual who went by the Japanese name **Satoshi Nakamoto**.
Last year, a secretive Australian entrepreneur **Craig Wright** claimed to be the creator of Bitcoin, though his claim has been questioned by some.
Since then, hundreds of other digital currencies have emerged, but Bitcoin remains the most popular and widely accepted cryptocurrency. Increasingly, merchants are accepting digital currencies as payment, further solidifying Bitcoin’s position in the financial landscape.
