Bitcoin Can Split Too!

Posted by GTES Exchange
Last updated 18th August 2020
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  • Bitcoin Can Split Too!

    Bitmatters Opinion Post

    Retail investors believe that a stock split is something good. For this reason, they often chase a stock after a split announcement. It nearly always becomes self-fulfilling. FANNG companies Apple (AAPL) and Tesla (TSLA) have both announced stock splits for 31 August 2020.

    Bitcoin could split by changing its accounting subdivision. It will have to in the future (there are too few whole Bitcoins to go round) so why not do it now whilst it is fashionable so that it creates renewed and deeper interest? Instead of just going for a normal 4 or 5 for 1 type ratio Bitcoin could go for its fourth level subdivision the Microbitcoin. This subdivision is also known as the Bit which is a nice subdivision of the name as well. The smaller accounting value changes nothing about Bitcoin but makes it more accessible and more attainable by more people.

    If the split does not work, then the Bit becomes a “penny stock” at around a cent per Bit. Early adopters get to experience price deja vu.

    If the prospect of a low Bit price generates a second wave of interest and adoption, then a pre-split surge probably creates a “dollar stock” if we take inspiration from what has happened to Tesla!

    Bitcoin Denominations
    Bitcoin has a metric system of denominations used as units of Bitcoin. The main goal of the bitcoin currency, abbreviated BTC, is to make it harmonious to worldwide currencies. Bitcoin tries to accomplish this function by being divisible down to the 8 decimal place. The smallest denomination in a Bitcoin is called ‘Satoshi’, in homage to its creator. Below is a list of the named denominations and their value in BTC.

     

    https://thehash.bitmatters.online/bitcoin-can-split-too/

    Bitcoin Can Split Too!
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