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  4. Can the cryptocurrency be the dominant currency surpassing EUROS AND DOLLARS?

Can the cryptocurrency be the dominant currency surpassing EUROS AND DOLLARS?

tylerwinklevoss
2022-10-21 10:33:05

Good morning, fellow mates! The question here is always tickling my mind on what's the possibility of BITCOIN overtaking the US DOLLARS, EUROS AND BRITISH POUND as the dominant and hegemon currency all over the world economy.

Post Reply  
elandicaprio
2022-10-21 10:36:40

No, bitcoin has no chance of that.  Dominance in the world of finance usually refers to the price dominance of Bitcoin in the cryptocurrency market due to its high capitalization.  In order to dominate conventional markets in terms of the volume of turnover, it is necessary that in this case, bitcoin displaces the common currency from circulation.  that is, dollar, euro, pound and so on.  However, bitcoin is not capable of replacing conventional currency.  It is conceived only as an alternative means of payment, and not a replacement for the traditional payment system.