If explanation is desired, a “bit” is anything with two choices (such as alive or dead, on or off, etc.) and is therefore binary (either/or). Of course, in the quantum world this binary distinction breaks down when unobserved and can become both and neither, simultaneously, until measurement (observation) occurs.
his cat to binary choice —
no wonder it “bit.”
Further reading: https://en.wikipedia.org/wiki/Schr%C3%B6dinger%27s_cat