What Is MilliBitcoin?
MilliBitcoin is a fraction of Bitcoin (BTC) equal to one-thousandth of a BTC.
Specifically, 1 BTC is equivalent to 1,000 mBTC.
Exploring Bitcoin’s Divisibility and Terminology
Bitcoin can be divided into extremely small units due to its digital nature, unlike physical materials like gold. This divisibility allows Bitcoin holders to price goods based on their perceived value.
While Bitcoin is primarily considered a store of value and has gained adoption for that purpose, its value against the US dollar remains volatile, and it is not widely accepted as a unit of account.
As a result, various terms have emerged to represent different sub-units of Bitcoin.
From Peer-to-Peer System to Leading Cryptocurrency
Bitcoin was initially envisioned as a crucial component of a peer-to-peer monetary system.
It has since become the leading cryptocurrency and the first monetary system built on blockchain technology.
Similar to how fiat currencies like the US Dollar can be divided into whole units and cents (one-hundredth of a dollar), Bitcoin can be further divided into microbitcoins (mBTC), millibitcoins (mBTC), and satoshi.