Popular Crypto Analyst Says Doing This One Thing Will Make Bitcoin 'More Compatible With The Financial World': Can It Really Make BTC Take Off?
Cryptocurrency analyst Willy Woo says Bitcoin’s (CRYPTO: BTC) next leap into mainstream finance may hinge on a minor rejig.
What Happened: "I have no opinions on whether changing Sats units to Bitcoins is a good idea but it would make BTC compatible with the financial world. Right now most banks cannot book a currency with 8 decimal points," he wrote on X Tuesday.
Most core-banking systems top out at two or four decimal places, leaving eight-place Bitcoin entries impossible to reconcile. Even home software such as Quicken struggles, forcing users to round or split lots.
See also: Jamie Dimon Opens JPMorgan To Bitcoin Access Despite Longstanding Criticism
A satoshi equals 0.00000001 BTC, meaning a $3 coffee shows up as 0.000028 BTC at checkout. Proponents say whole-number pricing would read more like familiar fiat quotes. Woo argues the tweak would "make BTC compatible with the financial world" without touching its code.
Why It Matters: Block CEO Jack Dorsey recently declared "bits of Bitcoin is better," backing BIP-177 to relabel sats as bits. Developer John Carvalho's draft would redefine one Sat as one Bitcoin, creating 21 quadrillion units. Skeptics like Byte Federal's Michelle Weekley reply that "people understand cents in a dollar; they will understand sats in a Bitcoin."
Regulators have eased crypto-custody rules, yet accountants still fight the decimal wall. Spot-bitcoin ETFs already hold billions, but shares settle in dollars, not fractional BTC. The extra zeros remain a psychological hurdle even as Bitcoin trades near $105,000.
Photo Courtesy: Yalcin Sonat on Shutterstock.com
Price Action: At the time of writing, Bitcoin traded 0.93% higher at $107,764.50.
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