Jack Dorsey backs BIP 177, a controversial proposal to rebrand Bitcoin’s base unit from “satoshis” to “Bitcoins.” Discover what this change means, why it’s sparking debate, and how it could reshape Bitcoin's identity and usability.
What is BIP 177?
BIP 177 is a Bitcoin Improvement Proposal that suggests rebranding Bitcoin’s base unit, the satoshi, as “Bitcoin.” This would shift how Bitcoin amounts are displayed, removing decimals and making small amounts more intuitive to users.
Why does Jack Dorsey support this proposal?
Jack Dorsey believes that the term “sats” is confusing for everyday users and acts as a barrier to adoption. He supports BIP 177 as a way to make Bitcoin more accessible and usable as real money, not just a speculative asset.
What are satoshis and how are they used today?
A satoshi is the smallest unit of Bitcoin, named after its creator, Satoshi Nakamoto. One Bitcoin is made up of 100,000,000 satoshis. Today, satoshis are used to measure small amounts of BTC in wallets and transactions.
What would change under BIP 177?
If widely adopted, BIP 177 would redefine 1 satoshi as 1 “Bitcoin,” and current BTC would become a larger unit (like a “megabitcoin”). For example, 0.00002525 BTC would be displayed as ₿2,525.
What are the arguments against BIP 177?
Critics say the change could cause confusion, dilute Bitcoin's core message of scarcity (21 million coins), and undo years of public education. They argue that the current system is simple and already well-understood.
Conclusion
The rebrand debate taps into larger questions about Bitcoin’s identity. Is it primarily a store of value, a speculative asset, or digital money for everyday use? Dorsey’s endorsement of BIP 177 signals a desire to push Bitcoin toward daily usability, even if that means rethinking terminology enshrined since its inception.
Whether or not this proposal is ultimately adopted, it has already reignited important conversations about how Bitcoin is perceived, communicated, and used. And in a space where consensus is hard-won, even small shifts in framing can carry enormous implications.