Yes, what you say is a fact that is covered up by banks and many people don't care. Actually bitcoin is more valuable than fiat because the government cannot control Bitcoin.
In fact fiat is real magic, the real treasure is gold, because gold can maintain a value, and now bitcoin can replace gold because its value is so high and can be easily moved.
Then how you do consider that bitcoin did get its value on fiat? You couldnt say that fiat is totally worthless or bitcoin is totally valuable but to think on where it do get its value from which we could really say that it isnt really that totally precise if we do really trying to make out some comparison
between fiat and Bitcoin but we should put up into consideration that fiat does have its own purpose and same goes with bitcoin or the entire
crypto market.