Bitcoin is a cryptocurrency invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto. The currency began use in 2009 when its implementation was released as open-source software.
Since there are only 21 million Bitcoins in total, there is less circulation of the market currency as the reward decreases. And as more people become aware of the asset's scarcity, more demand rises, resulting in a higher price.
Bitcoin is so powerful and has so much potential, Bitcoin's projected value and estimated growth could be astronomical. Speculation from crypto analysts and industry experts suggests that Bitcoin's long term value could reach over $100,000 to as much as one million dollars per BTC in the future.