In order to navigate the complexities of the world, the presence of control is essential. A natural system emerges where someone or something takes charge of various aspects, ensuring stability and order. Consider the role of government in our lives; without its governance, numerous issues would arise, as people would have unrestrained freedom. This demonstrates the necessity of control.
Bitcoin, as a decentralized cryptocurrency, challenges this established pattern. It operates outside the control of any single entity. While this offers advantages, such as increased transparency and autonomy, it also presents limitations. The absence of centralized authority prevents Bitcoin from becoming the sole global currency. Existing power structures are resistant to such a shift, as it would disrupt their control over the currency and economy.
Nonetheless, Bitcoin may eventually achieve widespread usage on a global scale. However, fiat currencies will continue to coexist. Governments will strive to maintain control over their respective currencies and economic systems. This ensures stability and facilitates effective governance in the face of evolving financial landscapes.
Bitcoin may indeed become widespread in the world, but for sure it will not be the last currency in the world. I doubt that BTC will retain a currency function at all in the future, because I assume that it will further transform into an investment vehicle along with classic technology stocks. Which, in principle, has already partly happened.
Also, there are doubts that there will ever be only one currency in the world. There are many countries in the world, each of which has its own government with its own views and interests. Each of which wants to print their own money, and the
inflation tax will be the beneficiary of this process. This and a number of other reasons will push them not to abandon local currencies, which in turn creates a confrontation towards the creation of a single and final currency.
In short, I don't expect the emergence of a single last currency in the world and don't expect bitcoin in this position, even if it could happen. But the nuance is that no one knows the future.