bitcoin

American  

[bit-koin] / ˈbɪtˌkɔɪn /

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.

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Usage

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

Etymology

Origin of bitcoin

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

Example Sentences

The sharp declines in equities spurred a further fall in cryptocurrencies, with bitcoin hitting a 15-month low overnight.

From The Wall Street Journal

—Bitcoin recovers only marginally after reaching a 15-month low late Tuesday on the back of a selloff in software and data company stocks.

From The Wall Street Journal

That means that if you own Strategy stock, the main thing that you own is 80 cents’ worth of Bitcoin for every dollar of stock.

From Slate

You might also get some dividends, but you’re not getting much else, because Strategy doesn’t do much else besides buy Bitcoin.

From Slate

In fact, about 3 percent of all Bitcoin belongs to Strategy.

From Slate