No, and it won't. Because the commercial banking sector and Bitcoin are two different things and do not actually overlap. Even though there are some people who say that Bitcoin can replace the banking sector, the reality is that most Bitcoin holders still need banking to withdraw/deposit their money and there are still many people who need banking services. Moreover, Bitcoin was not designed to be used as banking which provides various financial services to users. It is only used as "A Peer-to-Peer Electronic Cash System" not for banking where people can make loans, credit, etc. So even though Bitcoin adoption will increase globally, it will not be able to eliminate the commercial banking sector.