What Bitcoin is
Bitcoin has a rule-based issuance schedule and a capped eventual supply. Transfers are recorded on a public blockchain and validated by a distributed network rather than a single bank or company.
Its design makes it different from both government-issued currency and company shares.
What gives it value
Supporters point to scarcity, portability, network adoption and resistance to unilateral changes. Critics point to volatility, uncertain valuation anchors, energy use and reliance on continued market demand.
Those arguments concern different things: technical properties, economic use and market price should be analysed separately.
Main risks
Bitcoin can experience large price swings. Ownership also introduces custody risk: losing access credentials or relying on a failed custodian can result in permanent loss.
Regulation, taxation and market access can also change across jurisdictions.
General information only. Investment products can lose value, and terms, fees and regulation can change.