Bitcoin is a decentralized digital currency that operates without a central authority or banks. It allows for secure peer-to-peer transactions without the need for intermediaries. The total supply of Bitcoin is capped at 21 million coins, making it a deflationary asset.

The decentralized aspect of Bitcoin makes it an attractive store of value, as it's not controlled by any government or institution. The capped supply also adds to its deflationary nature, making it a unique asset in the traditional financial world.