The chapter offers a synthetic and compact view of the essence and functions of the bitcoin phenomenon in the context of the still prevailing type of capitalism, that is, finance capitalism. Hence, it addresses the following issues: What are the core properties of bitcoins? How are their enormous price fluctuations brought about? What is the impact of the related creation and destruction of “fictitious” financial wealth on the real economy? How is the phenomenon of cryptocurrencies embedded into that type of capitalism where striving for profits is focused on changes in the valuation of already existing assets? This “finance capitalism” has been shaping the global economy for almost 50 years—in contrast to the “real capitalism” of the 1950s and 1960s where striving for profits was focused on producing new real assets.