Can bitcoin take over the world currency market?

[Potuse]

There are speculations that Bitcoin would lead the world currency market because it is growing at an alarming rate which is why people believed in that assumption. if bitcoin continue to gain acceptance from different financial institutions, it may achieve this feat.

 

[Danny4cash]

Bitcoin is becoming more popular everyday. And with this high acceptability, it'll be difficult for one to argue that bitcoin will lead world currency market. However, the government opposition to bitcoin and cryptocurrency in general may not allow this to come to pass.

 

[Riberet19]

There are many things that Bitcoin can become, but I don't think so in the largest currency in the currency exchange market, or at least not the most widely used, there will always be world powers that will give priority to their currencies for world exchange and not Bitcoin, unless Bitcoin becomes the currency of a world power, which I don't think so.

 

[sofiko]

It is impossible to predict with certainty whether Bitcoin will be able to take over the entire global currency market. Although Bitcoin has become increasingly popular, it has many challenges such as volatility and obscurity for many people. In addition, there are other digital and fiat currencies that also have a strong position in the market. Such a global shift in currency systems requires significant changes in regulation and acceptance.

 

[Modar]

True, Bitcoin and cryptocurrencies Are getting more and more popular But they will never be able to take over the world and become #1 world and global currency. It will not work. Before that, there were arguments about this that supposedly it could become an important currency for the world, but Experts expressed an opinion and rejected this fact. I think the top 3 currencies are:
Dollar USA $
Euro €
GB Pound sterling £
They will forever remain so strong and influential for the whole world. USD has ruled the world for nearly eight decades now.
If not for Dollar USA, then there would be no other dollars from different countries. Example: Canadian, Australian, and many others.

 

[James]

Bitcoin, as a decentralized digital currency, has garnered significant attention and popularity since its inception in 2009. It has gained adoption and recognition as an alternative form of currency in various parts of the world. Still, there are several significant challenges and obstacles that would need to be overcome for Bitcoin or any other cryptocurrency to take over the world currency market

 

[Nomad]

I do not think bitcoin can take over the world currency, however, I believe tjere will be increase in use case and usability of bitcoin and bitcoin will exist along side fiat current. I think in the future, countries will use bitcoin for international trade instead of USD.

 

[Heatman]

Unfortunately I don't think that it is possible for Bitcoin to take over the world currency market because there are some limitations to Bitcoin as a result of not being accepted worldwide. Most of the powerful currencies that we have in the world and their government are not going to relinquish that power to Bitcoin and cryptocurrency.

 

[Grant]

I don't think something that's so volatile as Crypto and Bitcoin, would end up taking over the world currency. I just don't see it ever being a reality. You'd have to get everyone in on bitcoin and I highly doubt that is ever going to happen.

 

[Heatman]

I don't think something that's so volatile as Crypto and Bitcoin, would end up taking over the world currency. I just don't see it ever being a reality. You'd have to get everyone in on bitcoin and I highly doubt that is ever going to happen.

Exactly! It is the volatility of Bitcoin and other cryptocurrency that is going to make it impossible for it to take over the world currency because it is not something that can be sustainable for a very long period of time with its price value which makes it very difficult for you to depend on it as a world-leading currency.