Internet
fiat
What does fiat mean?
Slang and financial term for currency that has value by government decree rather than backing by a commodity.
"He'd rather hold gold than fiat."
Origin
From Latin 'fiat' ('let it be done'); modern crypto culture revived it as a contrast to cryptocurrency.
Frequently asked questions
What does 'fiat' mean in finance?
It refers to government-issued currency that has value by official decree rather than being backed by a commodity like gold.
Why do crypto people say 'fiat'?
Cryptocurrency culture revived the term to contrast traditional government money with crypto, often somewhat dismissively.
Where does the word 'fiat' come from?
From Latin 'fiat,' meaning 'let it be done' — money that exists because the state says so.
Study it as flashcards or scroll it in Vocabulary Flow — saved to your collection.
