Bitcoin is a speculative asset like stocks, or some people use it as a store of value like gold, so how can it challenge the global monetary system? Bitcoin will not change or affect the current monetary system, nor will the fiat currency system face any problems just because of the existence of bitcoin.
People turn to bitcoin simply because it is a potential asset and has the opportunity to bring higher returns than traditional investment assets such as stocks, gold, real estate.
But the difference may be seen when Bitcoin experiences correction in the condition of world economic turmoil because it can always be recovered gradually and now most investors also no longer experience panic in these conditions so that corrections only take place in a relatively short period of time.
People say Bitcoin is one of the good hedging steps to be invested so that more adoption occurs.
Bitcoin was not created to oppose the Fiat currency or other links as discussed by most people, only the process was linked as if Bitcoin would replace Fiat for the future.
The transition to Bitcoin is based on the value of this asset that continues to grow and most importantly can be a hedge so that more people choose it today.