The words of the year choices keep on coming, and Australian lexicographers have fixed on a suitable candidate to take their accolade.

Bitcoin is undoubtedly a word which has found its place in the lexicon this year, despite having been created five years ago. This digital currency has seen its usage in both financial and linguistic senses explode this year, and so the Australian National Dictionary Centre has named it as its word of the year.

It’s undoubtedly a good choice. It is a word which has been significant in public consciousness this year in a way that it wasn’t previously, while measurable usage itself has shot up 1,000%, according to the Australian experts.

Bitcoin is probably not quite as popular as Selfie, which simply confirmed its Oxford Dictionaries choice this week by becoming the centre of Barack Obama’s world. I suspect Australian experts couldn’t choose Selfie as well once Oxford had given it the nod, though it included it in its shortlist for the year, along with Twerk, FOMO (Fear of Missing Out), Captain’s Pick and Microparty.

Sadly Phubbing did not make the shortlist, a shame considering it is a word of Australian origin. But when you consider that words like Bitcoin and Selfie are now being heralded as the words of the year, it means we may look back on 2013 as a year when we were self- and money-obsessed, which is not necessarily the most flattering reflection of ourselves.