Bitcoin might have been all over the place, making waves in almost all spheres as we see it today but positive and negative as a part of its revolution but, its far from taking over traditional currencies, neither have it become the most used for electronic transactions.

Mind you, many merchants are yet to understand let alone, use it for a medium of exchange in there various business. With governments of the world still taking a stand against its legitimacy for a currency, it becomes so difficult to attain the global recognition and acceptance that it needs to serve a broader purpose for a means of some livelihood.

When it gets accepted on a broader scale, I don't think it would be some exclusive kind of relationship between the virtual and fiat currency but they would evolve some kind of relationship that would make them both stronger in the rims they operate.