He has this name because he slaughtered every buffalo he could find untill there were none just so the American Indians had no food or clothing. Nasty man.
I do know how he got his name but he was far from being alone when it came to buffalo killing, something which by 1800 had become a national sport in some parts of the US, and also many farmers killed them because of the damage they caused to their livestock. BB also did a few positive things in his time, like joining his father in speaking out against slavery, so he wasn't entirely a bad guy!