Do you think Bitcoin will become the reserve currency of the world sometime in the future? I was wondering about this since Bitcoin is now a widely used cryptocurrency worldwide. Since most altcoins in the market today, are dependent on Bitcoin's price movements, it seems like Bitcoin is the reserve currency of cryptocurrencies.
However, if Bitcoin tends to become more popular each day, it could eventually take the USD's place as the reserve currency of the world. Hence, what are your thoughts about this? Will it happen or not?
No, Bitcoin or any other decentralized cryptocurrency can never become a reserve world currency. It will be used primarily by individuals, that is, individuals and as a means of payment between individuals and legal entities. It is unlikely that states and their bodies will use bitcoin in international relations and in their domestic activities. There are many reasons and the most basic among them is the decentralized nature of Bitcoin and its high price volatility.However, if Bitcoin tends to become more popular each day, it could eventually take the USD's place as the reserve currency of the world. Hence, what are your thoughts about this? Will it happen or not?