mBTC stands for “millibitcoin,” which is one thousandth of a BTC. In other words, 1 BTC = 1,000 mBTC.
The smallest unit of bitcoin is called satoshi.
Satoshi Nakamoto published his paper on bitcoin in October 2008, and the first block was generated in January of the following year. This is why the smallest unit is named as such.
1 BTC = 1,000 mBTC = 100,000,000 satoshi
On the other hand, units larger than BTC have also been defined.
- 1daBTC (deca bitcoin) is 10 BTC.
- 1hBTC (hecto bitcoin) is 100 BTC.
- 1kBTC (kilo bitcoin) is 1,000 BTC.
- 1MBTC (mega bitcoin) is 100,000 BTC.