No. Bitcoin comes from a smoker which name starts with B.
You know that if you reverse nicotin and put B in front you get B(n)itcoin.
See? I can find easily ideas as much nonsense as yours.

If the name would have been based on what you say, it would have been in the best case scenario BoCCoIn. So no, you are totally wrong. (But you already know that, don't you?)