Bitcoin definition

Bitcoin means a type of digital currency in which a record of transactions is maintained and new units of currency are generated by the computational solution of mathematical problems, and which operates independently of a central bank.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Bitcoin means the Digital Asset commonly referred to as “Bitcoin” (BTC) in the cryptocurrency marketplace.

Bitcoin means the type of virtual currency based on an open source cryptographic protocol existing on the peer-to-peer payment network that operates on a cryptographic protocol and commonly known as the “bitcoin network”.

Examples of Bitcoin in a sentence

• For each calendar quarter subsequent to a Bitcoin Price Collateral Release, additional Bitcoin Price Collateral Releases shall occur only to the extent that the Average Bitcoin Price calculated as of the end of such quarter exceeds the highest Average Bitcoin Price at which any previous Bitcoin Price Collateral Release occurred (the “Prior Average Bitcoin Price”).

• In such event, the Liens granted to the Collateral Agent in a number of Bitcoin constituting Collateral that secures the Notes (as reasonably determined by the Company) equal to (1) sixty-six and six tenths percent (66.6%) of the difference between (x) the Public Float and (y) the Prior Public Float, divided by (2) the Average Closing Bitcoin Price, shall be automatically and irrevocably released (and, for avoidance of doubt, be considered a “Public Float Collateral Release”).

• Within five (5) Business Day following the Pending Collateral Release Event, the Company shall provide to the Trustee (and request the Trustee to provide a copy to the Holders) written notice of the Collateralized Bitcoin Amount that will be released once the registration statement referenced in the prior sentence has been declared effective.

• Any sale of Bitcoin by the Group, other than sales needed for the purpose of funding operations of Pubco with a maximum aggregate value in any fiscal year not to exceed the lesser of (A) $1 million, and (B) 10% of the annual operating expenses budget approved by the Pubco Board.

• Any material alteration in the nature of the Group’s business, including changes to the scope of Pubco or any of its subsidiaries’ asset management activities, including its management of cash and Bitcoin reserves, and any changes that would result in Pubco or any Subsidiary becoming an investment company.

More Definitions of Bitcoin

Bitcoin means the digital currency referred to as such by market practice and transacted via a payment system using peer-to-peer transactions verified by network nodes and recording in a public distributed ledger called the “Blockchain”.

Bitcoin means a digital asset based on the cryptographic protocols used by the decentralized, peer-to-peer bitcoin computer network.

Bitcoin means the type of virtual currency based on an open source cryptographic protocol existing on the Bitcoin Network.

Bitcoin means one unit of the digital currency traded under the ticker symbol “BTC”.

Bitcoin means Bitcoin, a type of digital asset based on an open source cryptographic protocol existing on the Bitcoin Network as determined by the Sponsor in accordance with Section 6.2(l), and the assets underlying the Trust’s Shares.

Bitcoin means a type of decentralized cryptocurrency created by a peer-to-peer network that operates independently of any central authority or bank.

Bitcoin or "BTC" means digital currency and payment system using peer to peer transactions verified by the network nodes and registering in a public distributed ledger called blockchain.