It is safe to say that most people have heard of Bitcoin by now. Whether they know what it is or not is another story, but the mere fact that it has made headlines across the globe is enough to pique anyone’s interest.
With a current market value of over $100 billion, Bitcoin is now the most valuable cryptocurrency in the world. But what exactly is Bitcoin, and how can you invest in it?.
Bitcoin is a decentralized digital currency, which means it is not subject to any government or financial institution. It was created in 2009 by an anonymous person or group of people under the alias Satoshi Nakamoto.
Bitcoin is unique in that there are only 21 million Bitcoins in existence – once all 21 million have been mined, that’s it! No one can create more Bitcoins.
So how do you mine Bitcoins? That’s actually a pretty complicated process, but essentially people use powerful computers to solve complex math problems. For their trouble, they are rewarded with a certain number of Bitcoins.
The process is called “mining” because it requires a lot of work (and electricity!) to produce each Bitcoin.
Once you have some Bitcoins, you can use them to buy goods and services online, or you can hold onto them in the hopes that their value will go up over time (kind of like investing in gold). Right now, one Bitcoin is worth about $4,000 USD – but its value has been as high as $19,000 USD and as low as $600 USD over the past few years, so it can be very volatile!
So does TIAA invest in Bitcoin? Unfortunately, we cannot speak for TIAA specifically. However, we do know that many major financial institutions are starting to invest in Bitcoin and other cryptocurrencies.
So it is possible that TIAA has made some investments in this area – but we cannot say for sure.