A millibitcoin, written mBTC, is one thousandth of a bitcoin: 0.001 BTC, or 100,000 satoshis. The prefix "milli" follows the metric system, as in millimetre. The unit sits between the whole coin and smaller units such as the microbitcoin (μBTC), which equals 100 satoshis and is also called a bit. Some wallets and exchanges let users display balances in mBTC, and it was used more widely in the early 2010s, when quoting small payments in whole bitcoins meant long strings of zeros. As bitcoin's price has risen, many applications have shifted towards satoshis for everyday amounts. The millibitcoin is purely a display denomination; the Bitcoin network itself records all amounts as whole satoshis.