Bitcoin, often referred to as the pioneer of cryptocurrencies, was created by an anonymous person or group of people using the pseudonym Satoshi Nakamoto in 2008. It was introduced as an open-source software that enables a decentralized form of digital currency. Bitcoin operates on a peer-to-peer network, utilizing blockchain technology to record transactions securely and transparently. As a digital currency, Bitcoin's primary purpose is to serve as a decentralized medium of exchange. 

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