Bitcoin

noun
Bit·​coin | \ ˈbit-ˌkȯin How to pronounce Bitcoin (audio) \
variants: or less commonly bitcoin

Definition of Bitcoin

: a digital currency created for use in peer-to-peer online transactions Introduced in 2008 by a person or group using the name Satoshi Nakamoto, Bitcoin is the most prominent of a group of virtual currencies—money that exists mainly as computer code—that have no central issuing authority.— Carter Dougherty Bitcoin … is backed by no government and has a fluctuating value linked in part to a scarcity that is mathematically predetermined.— Glenn Zorpette The venture capital industry is beginning to take a good, hard look at a new financial instrument coming out of the bitcoin community—Initial Coin Offerings, or ICOs.— Richard Kastelein also usually bitcoin : a unit of this currency Commercial space venture Virgin Galactic—which announced on Nov. 22 that it would start accepting bitcoins to reserve a refundable $250,000 seat on a future trip—is just the latest of many businesses that have recently embraced the decentralized virtual payment system. (At press time, 1 bitcoin was worth roughly $879.) Time

Examples of Bitcoin in a Sentence

Recent Examples on the Web The desk struck a relationship with Poloniex, its Boston neighbor, after Poloniex became one of the earliest exchanges to list Ether, the native coin of Ethereum, the biggest cryptocurrency network next to Bitcoin. Robert Hackett, Fortune, 26 Feb. 2018 Bitcoin, however, has become the cryptocurrency standard operating much like U.S. dollar would operate in public currency markets, but in the crypto realm. Michael C. Dealoia, cleveland.com, 25 Feb. 2018 The town decided early on to attract crypto-entrepreneurs, for example by allowing companies to incorporate based on bitcoin wealth, rather than insisting that it be converted into fiat currency. The Economist, 24 Feb. 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'Bitcoin.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

See More

First Known Use of Bitcoin

2008, in the meaning defined above

History and Etymology for Bitcoin

bit entry 4 + coin entry 1

Buying Guide

Our team at The Usage has selected the best gaming consoles of 2021.

Learn More About Bitcoin

Time Traveler for Bitcoin

Time Traveler

The first known use of Bitcoin was in 2008

See more words from the same year

Dictionary Entries Near Bitcoin

bitchy

Bitcoin

bite

See More Nearby Entries 

Statistics for Bitcoin

Cite this Entry

“Bitcoin.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/Bitcoin. Accessed 2 Dec. 2021.

Style: MLA
MLACheck Mark Icon ChicagoCheck Mark Icon APACheck Mark Icon Merriam-WebsterCheck Mark Icon

WORD OF THE DAY

Test Your Vocabulary

Difficult Spelling Words Quiz

  • alphabet pasta spelling help
  • Which is the correct spelling?
Spell It

Can you spell these 10 commonly misspelled words?

TAKE THE QUIZ
Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!