Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries.
Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services.
As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.
The price of a bitcoin reached $1,139.89 on 4 January 2017.
As of September 2017, BTC is trading at $4222.2330 on the Bitstamp exchange.
2040 is still a long way off, and predicting the price of Bitcoin then is anyone’s guess. However, given the current trajectory of the currency, it is not unreasonable to think that Bitcoin could be worth several times its current value by 2040.