It is money that is backed by nothing
A lot of bullshit is said but thats its
it is faith based
here if you want more details here you
Fiat money is a type of currency that is not backed by a commodity, such as gold or silver. It is typically designated by the issuing government to be legal tender. Throughout history, fiat money was quite rare until the 20th century, but there were some situations where banks or governments stopped honoring redeemability of demand notes or credit notes, usually temporarily. In modern times, fiat money is generally authorized by government regulation.
Fiat Money: What It Is, How It Works, Example, Pros & Cons
What Is Fiat Money?
Fiat money is a government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it.
historically all FIAT currency resets to ZERO