Why do people say 1K?

Why is it that so many people in the cryptocurrency and finance community often use the term "1K" when referring to a thousand units of a particular asset? Is it simply a shorthand way of saying "one thousand" or is there a deeper reason behind this trend? Could it be a way to quickly and easily convey large amounts of a digital asset without having to say the full number? Or is there another factor at play, such as a cultural or linguistic influence? Understanding the origins and motivations behind this terminology could provide valuable insights into the way people communicate within this industry.