Block Inc CEO Jack Dorsey has expressed support for the proposal to eliminate the term “satoshi” in favor of simply using the term “bitcoin” to refer to the smallest unit of the cryptocurrency. He shared this opinion on the social network X (formerly Twitter), commenting on a post by a user with the handle grubles.
This is reported by Business • Media
The programmer noted that satoshis are part of bitcoin, so there is no need to use a separate name for them. Dorsey emphasized that this approach could confuse newcomers, and using the term “bitcoin” would be simpler and more convenient.
BIP 177 Proposal and Its Implications
The discussion was sparked by the BIP 177 proposal put forward by Synonym CEO John Carvalho. In his initiative, he suggests renaming satoshis to “bitcoin” and abandoning decimal fractions. Carvalho believes that this change will not affect the blockchain itself but will require a redesign of wallet and exchange interfaces.
According to him, such a change would make bitcoin more understandable for users, as instead of 0.000001 BTC, they would simply see 1 BTC. This, supposedly, would eliminate the psychological barrier, similar to stock splits.
Criticism of the Proposal and Its Consequences
The proposal has elicited mixed reactions within the industry. Market representatives, including Swan CEO Cory Klippsten and Byte Federal director Michelle Wieckly, warned of the risks of confusion. They noted that a visible increase in supply from 21 million to 2.1 quadrillion could scare users.
“HARD disagree. This is a non-issue. People who suffer from unit bias are generally dumb and don’t have money.” — Cory Klippsten
Magdalena Gronowska, a representative of the Proof of Workforce organization, also expressed her concerns, believing that newcomers might perceive this as a devaluation of the asset. She added that people might mistakenly think that the price of bitcoin has fallen while its volume has sharply increased.
It is worth noting that recently the price of the first cryptocurrency exceeded $107,000 for the first time since late January 2025.