I now see four worthy and sounder opponents for government fiat currencies, including the US dollar: gold, silver, bitcoin and monero. The four amigos, I call them. They move together and they lead the commodity complex because as you know commodity cycles are largely monetary.
Four amigos are known. But the big question is will all four of them be relevant at next economic collapse or only sold and silver. That is a billion dollar question. Are Bitcoin and Monero ready for central banks to see them as one of the four amigos.
Doubt if central banks are in any position to decide whether Bitcoin and Monero should be among the four amigos. Hell, I hate to admit it, but if banks get smarter with their CBDC, talks about bitcoin and monero may become 'phantomized'. But if/when we do encounter another economic crisis, bitcoin performance as both a hedge of value and medium of exchange would play critical roles to cryptocurrencies in general.