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

Bulls are daring to dream of $100,000 Bitcoin, as well as more far out possibilities including the creation of a strategic Bitcoin reserve.

From New York Times

Bitcoin is gaining again on Tuesday, extending a volatile post-Election Day rally that has pushed the market value of all cryptocurrencies above $3 trillion.

From New York Times

James Howells, 39, has been trying to retrieve the hard drive containing his lost Bitcoin fortune, which he believes is in a Newport landfill site, for over a decade.

From BBC

The hard drive reportedly contains 8,000 Bitcoins – worth around £4m at the time it was binned, but now worth more than £569m since the recent Bitcoin surge.

From BBC

A man who accidentally binned a hard drive containing Bitcoin says it is now worth more than £500m following recent price surges.

From BBC