> "Two bits" is a term in the United States and Canada for 25 cents I don't know about Canada, but the "is" should be a "was" unless there are contexts I don't know about. It did lead me down a little deeper the Wikipedia rabbit hole, and apparently: > The New York Stock Exchange continued to list stock prices in $1⁄8 until June 24, 1997, at which time it started listing in $1⁄16. It did not fully implement decimal l…
A Spanish dollar was worth eight Spanish reals. So a quarter of a dollar would be worth two Spanish reals; hence two bits. Presumably the terminology stuck around even after the switch to US dollars.