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

Servicemembers are making fortunes in tech stocks and bitcoin.

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The price of bitcoin roughly quadrupled that year.

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Saunders also bought bitcoin, shares of pandemic-era memestock GameStop and “whatever else was going crazy.”

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Saunders made a profit with Tesla shares, but said he lost more than $10,000 in a single day last winter trading a financial product that makes leveraged bets on the stock of MicroStrategy, a company that buys bitcoin and is now known as Strategy.

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Today the helicopter pilot is a “bitcoin and chill” guy: he invests in bitcoin and bitcoin-related companies, and said his holdings are up to around $1 million.

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