When bitcoin was first created, it was seen primarily as a virtual currency to be used for transactions between individuals. Those who owned bitcoin in the early days were those who mined for them and gained them through transactions and barters with others. Once there was wider use of bitcoin throughout the world, there was the need to gain more access to it for a wider audience of people. Along with that was the need to correlate the value of bitcoin to a dollar amount so that people without mining options and direct contacts who owned the virtual currency could gain access to it.