It is not possible now. However, if that happens, it will be many years later. Because Bitcoin was not created to replace fiat but as an alternative currency to fiat. Bitcoin will never be regulated by the government cause it is decentralized. Banks, on the other hand, are fully centralized and controlled by the government. As a result, banks are inextricably linked to our economy. Because of this, we cannot continue without banks. Although Bitcoin offers financial freedom and security compared to the traditional banking system, it is not possible for Bitcoin to wipe out the commercial banking sector.