What is bitcoin, the world's most popular cryptocurrency

ABC's Rebecca Jarvis explains what consumers can buy using this digital currency, which exists solely online.
3:00 | 02/28/18

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Transcript for What is bitcoin, the world's most popular cryptocurrency
According it's big digital currency you've probably heard something about at this point those stories about early investors striking it rich hit Angel. Those guys from the social network the waigel bus twins. This idea is potentially millions of dollars million they've eleven million dollars this debate going back in 2013. Now. They're billionaires but what exactly is a meet up courtesy and under the ordinance we have enough trouble with yeah. This. Grueling is the world's most popular crypto currency it's a digital currency than you could use like cash but unlike other currencies it isn't backed by any government and you don't keep that in a big board here reading your pocket when it exists solely online. You can use it to get a hotel room on Expedia. I furniture on overstock sprint theory pays someone directly for a cup of coffee big corn has experienced an astronomical. Rise in value when it first started you could pick up a single bitcoin. For less than a penny. Last year of that same bitcoin would have cost you almost. 20000 dollars at one point but it's been extremely volatile in terms of its price leading some to question. Is it all just tight.

This transcript has been automatically generated and may not be 100% accurate.

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