Bitcoin is administered through a decentralized peer-to-peer network.
Bitcoin is a decentralized digital currency created by developer Satoshi Nakamoto. It does not rely on a central server to process transactions or store funds. There are a maximum of 2,099,999,997,690,000 Bitcoin elements (called satoshis), which are currently most commonly measured in units of 100,000,000 known as BTC. Stated another way, no more than 21 million BTC can ever be created.
Prices fluctuate relative to goods and services more than more widely accepted currencies; the price of a Bitcoin is not static.