Governments all around the World Secretly start using together with banks the bitcoins.
Oil is done so They replace bitcoin instead of oil.
The btc volatility might go like daily 50k-100k price Changes.
Bitcoin will be instutionalized permanently.
The Global market prices Liqutation postion will be fluctuated by Bitcoin price.
I said this before but nobody didnt listen but now its here!!
It won't replace oil or gold. Oil might fade but not because of bitcoin but because of less reliance on it as a commodity. Gold is another asset class. Its not about replacing something but complimenting it. Gold and bitcoin don't exactly do the same thing nor act the same. They can both coexist peacefully.
There won't be any reason for bitcoin to replace an asset such as Gold and a commodity such as Oil. They're prices might differ a lot but it won't affect each other as those three things aren't the same. Oil is a commodity that had various usage throughout the world such as for cars and many more that involves engine and the like which bitcoin doesn't have any connections to. Same goes for gold which has a variety of uses that doesn't involve bitcoin on the process. They coexist but aren't related and doesn't affect each other.