BTC is gradually gaining its grounds in the financial institute. Most people prefer using bitcoin as a medium of exchange. Before the advent of bitcoin local and foreign currencies were the only means of financial transactions. Currently BTC has gone beyond bothers and has also made transactions safer and faster without much stress of converting from one currency to another. From my own opinion its a better way of accumulating wealth and secure a perfect future of cashless policy
Are you sure "most people prefer using bitcoin as a medium of exchange"? I mean most people prefer paying with cash as far as I know. They don't like paying with any kind of cashless system (yeah, most shops also prefer they pay with cash!). True bitcoin has gone beyond borders and we can't deny the security of it. But saying it is faster and safer isn't completely correct. It is safe for someone receiving it, not for someone sending it. I mean if they send it to the wrong address or to a scammer, there is no getting it back. Faster? It sometimes takes more than hours to get single confirmation if you don't pay premium fees. The future is unknown. If a better currency is created, bitcoin would just be used as a medium of storage.