What does Bump Version stand for?

Question

It means to increment the version number to a new, unique value.

from: A successful Git branching model:

$ git checkout -b release-1.2 develop
Switched to a new branch "release-1.2"
$ ./bump-version.sh 1.2
Files modified successfully, version bumped to 1.2.
$ git commit -a -m "Bumped version number to 1.2"
[release-1.2 74d9424] Bumped version number to 1.2
1 files changed, 1 insertions(+), 1 deletions(-)

After creating a new branch and switching to it, we bump the version number. Here, bump-version.sh is a fictional shell script that changes some files in the working copy to reflect the new version. (This can of course be a manual change—the point being that some files change.) Then, the bumped version number is committed.

It means incrementing the current version number by 1.

Boost, pump up, bring up, ⸻the version.

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The etymology for you.

https://www.dictionary.com/e/slang/bump

Likely emerging in the mid to late 1990s with the rise of online message boards, bump is popularly said to be a backronym for the phrase “bring up my post.” The term, however, may have also simply originated as an extension of the word bump (i.e., give something a bump, or boost.).