No, fiat currencies are those issued and legally validated by governments. For example the US dollar, the euro, the yen and the main reserve currencies.

Although more and more countries like El Salvador are interested in it becoming legal tender, Bitcoin is not issued by any country.

On the other hand, Bitcoin is a cryptocurrency whose value is determined by the confidence that economic agents have to accept it as a medium of exchange.

Now, what are cryptocurrencies?

We will explain it to you on the next page.