Today we saw bitcoin hit an all time high of $23k while its traditional counterparts are suffering a decline in value. Historically, when someone desires financial stability, they naturally go for safe investment is, such as gold, stocks, real estate. But with the outbreak of the corona virus pandemic we have experienced a shift in global economy, countries are facing inflation. As a result many individuals are beginning to see Bitcoin as a safer investment than its counterparts. Countries are slowly adopting crypto as a means of payment. Will bitcoin eventually dominate the world economy and replace traditional currencies?
I don't think that is actually up to BTC itself to make any proactive moves.
However, BTC will be on standby as the next best alternative if the fiat system experiences a catastrophic failure. The catalyst for mass adoption, therefore, would likely simply be some sort of hyperinflationary event in a major economy that shatters confidence in 'paper' currency.
I would still say though that the chances of this happening in the near future is pretty slim, even as a long term bitcoin bull. As I said, it would take a black swan event. For now, BTC will simply serve as an alternative payment gateway and store of value alongside fiat.