Puerto Ricans use it to refer to a drug dealer, or someone in charge of criminal operations. Maybe comes from the expression "Big Shot".

n. The birth name of somebody who has changed their name. Most commonly attributed to trans people, but can be attributed to any person who has changed their name. (sometimes written as two words: dead name)

v. 1. To call somebody by their deadname.
v. 2. To out somebody's deadname to the public.

Adjective - Something unusually cool.
Noun - Pimp.

In Puerto Rico, "bicho" is a cock. "Bichote" is a huge cock. Also, a very self-assured man, cocky.