He didn't say it was Bitcoin style, just that it used "(Bitcoin style) encryption".

I was going to point out that Bitcoin does not use encryption; but technically I think it's signature algorithm (ecdsa) can be thought of as a hashing step, followed by a public-key based encryption step.

So, in the most charitable reading, it using ecliptic curve asymmetric encryption. Presumably for the purpose of exchanging a symmetric key, as asymmetric encryption is very slow. In other words, what basically everything written this decade does. Older stuff would use non EC algorithms, that are still totally fine, but need larger keys and would be vulnerable to quantum computers is those ever become big enough.