The European Parliaments Committee on Economic and Monetary Affairs (ECON) has come up with a report on cryptocurrency entitled Virtual currencies and central banks monetary policy: challenges ahead. The finding of reports shows that cryptocurrency will not replace fiat currency, even in the long term.
https://bit.ly/2NeLgLrI think it is hard for Bitcoin to convert into fiat money. These two currencies are two opposites with completely different properties and it is difficult for these two to become 1. Bitcoin is free while fiat is under the management and distribution of the state. Then Bitcoin has high intensity and fluctuation intensity and fiat is very stable and grows or drops below 10%