Wall Street Wonders if Bitcoin Could Replace Fiat Currencies

[Churphans]

El Salvador’s adoption of Bitcoin as legal tender has compelled analysts on Wall Street to re-evaluate their positions on the currency’s future. Once considered a niche asset, the digital currency is now under review in several countries, some of which are designing legal frameworks to regulate its movement. Many are wondering if this sea change in official attitudes can help Bitcoin replace fiat currencies like the dependable dollar.
Can Bitcoin Replace Fiat Currencies Like Dollar
In the recent past, several corporate giants have openly embraced Bitcoin by featuring it in their investment portfolios. The likes of Tesla, MicroStrategy, and Square have led the corporate crypto revolution, by parking their assets and offering transaction services to customers in the virtual currency. Some have also taken it upon themselves to ensure a greener future for the industry by reducing its energy consumption.source