This may be relevant to the potential change of Bitcoin's standard unit of account from BTC to mBTC. Studies on the price of stocks that experienced stock splits shows that splits tend to have a positive effect on price:
http://www.jstor.org/discover/10.2307/2331396?uid=3739400&uid=2129&uid=2&uid=70&uid=3737720&uid=4&sid=21102419251081We observe significant post-split excess returns of 7.93 percent in the first year and 12.15 percent in the first three years for a sample of 1,275 two-for-one stock splits. These excess returns follow an announcement return of 3.38 percent, indicating that the market underreacts to split announcements. The evidence suggests that splits realign prices to a lower trading range, but managers self-select by conditioning the decision to split on expected future performance. Presplit runup and post-split excess returns are inversely related, indicating that our results are not caused by momentum.
http://www.efmaefm.org/efma2006/papers/712910_full.pdfAlthough stock splits seem to be purely cosmetic, there is ample empirical evidence that they are associated with abnormal returns. This study analyzes the effect of stock splits using intraday data and insider trading data in Hong Kong from 1980 to 2000. Consistent with the findings of other countries, we observe positive price reactions in Hong Kong.
