Fiat money refers to a type of currency that holds value because a government declares it as legal tender, rather than being backed by a physical commodity like gold or silver. Most modern economies ...

Discover the differences between fiat money and legal tender, their roles in the economy, and why it matters for your financial insights.

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Bitcoin’s value without fiat would rely on real economic use, not exchange rates. Satoshis would function as the practical unit of account for daily pricing.