BTC became the first decentralized cryptocurrency in 2009 and was officially listed as a commodity by the U.S. Commodity Futures Trading Commission (CFTC) in 2015, alongside other virtual currencies. By the end of 2020, amidst the global pandemic, governments worldwide continued to issue excessive amounts of currency, sparking a major bull market in cryptocurrencies. BTC subsequently rose to become the sixth most circulated currency globally. The following year, the government of El Salvador officially declared BTC as legal tender in the country.