I ask this question because I wonder what Bitcoin will become now that the financial institutions and meme coin advocates have taken over.
If Bitcoin is not peer-to-peer electronic cash then how do you see it?
Even if FIAT and meme coins become more powerful than Bitcoin (which will likely not happen), it will not change the fact that Bitcoin is a digital currency. Currently, Bitcoin is the number one cryptocurrency yet altcoins are still seen as digital currencies. Bitcoin has all the features that qualifies it to be called a digital currency.
- it is divisible
- its supply is scarce
- it is a store of value
- it is a means of payment
- A unit of account
Although many people still appreciate it more as an investment, it is still a currency and it is slowing gaining general acceptance.