In what way is Bitcoin (or any crypto-so-called-'currency') not "fiat?" It surely isn't a metal. Its existence was humanly decreed, its amount humanly determined. Its value is determined solely by speculation.

I am not anti-crypto. Just don't misrepresent what it is: a virtual 'asset' that has efficacy as a medium of exchange for only two reasons: some people use it for illegal activities and some people think it's 'cool'. The latter is, I think, silly, but not a reason to ban it. The former is.