Why Bitcoin Thrives (and Why It Won’t Replace the Dollar)

Why Bitcoin Thrives (and Why It Won’t Replace the Dollar)


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Bitcoin is the leader of the pack in the crypto space. It has recovered from the disastrous crash of 2018 and is heading back towards the price it reached in December 2017. So what does the future hold for bitcoin? Could it eventually replace the dollar as the global reserve currency, as its loyal supporters claim? Will it eventually crash and die, as Nouriel Roubini has predicted? Or is it destined to remain a speculative asset, spicing up investment portfolios but never being adopted as a main medium of exchange?

More than a decade after its emergence from the ashes of the financial crisis, bitcoin is still a minority sport. Predictions that it will reach $1 million or more seem wildly over-optimistic. Nor is it showing any signs of becoming a main medium of exchange. Over the last 10 years, the U.S. dollar has entrenched itself ever more firmly as the world’s premier settlement currency. Bitcoin is

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