No it's not.

It's a token that does not use any kind of Bitcoin address, and might not be backed by any bitcoin whatsoever.

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Indeed, the Bitcoin network uses its own unique address system, and its intrinsic value arises from its independent, decentralized operation.

yea it is because it's sats

I can hand out cloakroom raffle tickets and pretend they're sats, but they're still not.