Dorsey

Jack Dorsey, founder of Twitter (now X) and a long-time Bitcoin supporter, recently made waves by endorsing the Bitcoin Improvement Proposal (BIP 177) to rename the basic unit from "satoshis" to "Bitcoins." With over 1 million views on X, this proposal is dividing the community.

BIP 177: Redefining the Bitcoin Unit

The BIP 177 proposal, drafted by programmer John Carvalho – CEO of the Bitcoin software company Synonym – aims to change the way the amount of Bitcoin is displayed. Currently, 1 Bitcoin consists of 100 million satoshis (sats), named after the anonymous creator Satoshi Nakamoto. With Bitcoin's price currently exceeding 105,000 USD, many believe that using satoshis is no longer appealing for everyday spending.