bitcoin

[bit-koin]

noun

1. Often Bitcoin the first widely established cryptocurrency, which uses state-of-the-art cryptography, can be issued in any fractional denomination, and has a decentralized distribution system.

   Increasing numbers of stores and online businesses accept Bitcoin.

2. a single unit of bitcoin, the first widely established cryptocurrency.

   The value of a bitcoin has sometimes surpassed the value of an ounce of gold.

Usage

What's the difference between bitcoin, cryptocurrency, and digital currency? See digital currency ( def. ).

Word History and Origins

Origin of bitcoin¹

First recorded in 2005–10; bit ³ ( def. ) + coin

Example Sentences

These days it’s more reliant on Bitcoin prices, which for the moment, are under pressure.

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I’m a 51-year-old single woman, and I’m a fully signed-up bitcoin owner.

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When I first bought bitcoin it was $48,000, and it went down to $16,000.

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Firefish, a non-custodial, peer-to-peer lending platform, puts your bitcoin into escrow.

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With Firefish, bitcoin borrowers lock their bitcoin as collateral in wallets, while investors fund these loans for yield.

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