Bitcoin is a cryptocurrency system that is used to make payments around the world. It has grown exceedingly popular since its development around 2008. Bitcoin uses a technology called the “blockchain” that functions as a public ledger, helping people spend and receive bitcoin without a centralized oversight system. In December, the value of Bitcoin soared past $17,000 as major trading exchanges began offering investors bitcoin futures. Roger Ver, the CEO Bitcoin.com, called the electronic cash system “one of the most important inventions in all of human history,” according to the company’s website. But doubters like JPMorganChase CEO Jamie Dimon consider bitcoin a “fraud.”
