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: altcoin ( def ).

   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 Note

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 none

Example Sentences

Last year, the country was only second to Nigeria in bitcoin trading in Africa.

From TechCrunch

The bitcoin network has a decentralized architecture that puts it beyond the reach of any government.

From Ars Technica

When the news of the purchase became public on Monday, the value of the world's bitcoin rose by about $90 billion while the value of Tesla rose by about $8 billion.

From Axios

The move is a major sign of support for bitcoin and could encourage other major companies to follow suit in accepting the world’s most popular cryptocurrency.

From Washington Post

A growing number of mainstream organizations have chosen to add bitcoin to their investment portfolios, pushing up the currency's value.

From Ars Technica

Bitcoin began 2013 with a roaring price of $770 per unit, and businesses right and left were converting to the ethereal product.

From The Daily Beast

Certainly the bitcoin community continues to treat Karpeles as a pariah.

From The Daily Beast

The bitcoin community and press have vilified Mark Karpeles, the CEO of Mt. Gox, as a clown and a con man.

From The Daily Beast

Those who are enthusiastic about bitcoin should be more careful about making sure they avoid harm.

From The Daily Beast

It all started in 2010, when a French client asked me, “Could I pay in bitcoin?”

From The Daily Beast