MilliBitcoin

MilliBitcoin, also known as mBTC, is a sub-unit of Bitcoin which is equivalent to the one-thousandth of a BTC, the most famous and valuable cryptocurrency in the world.

MilliBitcoin is a broken-down version of Bitcoin (BTC) which is exactly equal to the one-thousandth part of a BTC. In other words,

1 BTC = 1,000 mBTC.

Bitcoins can be divided down to near-infinite values because they are backed by a code rather than a physical material, such as gold. This enables Bitcoin holders to hold and effectively divide Bitcoin into several units, allowing them to price goods based on their perceived value. However, because it is a store of value, there has recently been an increase in adoption. As the cryptocurrency’s value against the US dollar is volatile, and it is not widely accepted as a unit of account, there are currently many terms that each correspond to a sub-unit of Bitcoin.

A satoshi is the smallest unit of Bitcoin. Satoshi Nakamoto released the BTC whitepaper back in October 2008, and the first block was generated in January of the following year. Therefore, the smallest unit has been named after them.

Bitcoin was intended to be a crucial part of a peer-to-peer monetary system. BTC has become the leading cryptocurrency and the first monetary system based on blockchain technology.

In the same way that fiat currency, such as the US Dollar, can be divided into whole units like Dollars and cents (one-hundredth of a dollar), Bitcoin can be divided into microbitcoins (mBTC), millibitcoins (mBTC) and satoshi.