Unfortunately, Bitcoin hasn't eaten much market share from the US dollar with arms trading and terrorism but it has been slowly eating away market share in these categories:
Drugs, gambling, prostitution, ransomeware, money laundering , capital flight.

This makes bitcoin somewhat of a blackmarket ETF where state governments heavily subsidize the value and premium of bitcoin by introducing regulation and laws which make bitcoin a valuable tool to route around these restrictions.

Therefore the best way to destroy much of the value of bitcoin is to make everything legalized and for all governments to become anarchistic. Thus Bitcoin is a hedge against anarchy and if you think governments and laws will continue to exist bitcoin has a bright future ahead.