Can Bitcoin Truly Become a Global Currency?

[AmaGold70]

   
Since Bitcoin was created, many believed it could become a universally accepted currency—borderless, fast, and independent from governments. But in reality, can Bitcoin ever be used for everyday purchases? Issues like slow transaction fees, network congestion, volatility, and merchant adoption remain challenges today. While solutions like Lightning Network continue to improve speed and cost, there’s still a long way to go. Do you think Bitcoin will ever function as a global currency, or will it stay more as an investment and store of value?

Bitcoin is a global currency yeah but I don't see it doing the same work as Fiat currency because it wasn't made to replace because I see that's where you are heading to, unlike Fiat currency Bitcoin will be a bit complicated for some people to use it as an everyday purchase use and I prefer to convert my Bitcoin to fiat currency before using it to purchase anything for myself because I see Bitcoin more as an investment and Bitcoin will never be seen as a regular currency that can be used by everyone in exchange for goods and services because there will always be local traders that can't accept Bitcoin as payment.

[impulse709]

Do you think Bitcoin will ever function as a global currency, or will it stay more as an investment and store of value?

A time will come when the volatility will become less because people will start using it more as a medium of exchange instead of an investment because since investors will not make much profits from it again, they will now prefer using it more for payments and peer-to-peer transactions but that will happen when many countries in the world would have adopted bitcoin as a reserved asset and as a legal tender. For sure bitcoin will become a global currency but it won't replace the existence of the fiat currency.

I concur that Bitcoin stands a more chance of becoming a global payment alongside fiat and not entirely take its place over. With the infiltration of Bitcoin as a reserve asset and the increasing number of countries, institutions, and people to hold Bitcoin, its volatility must steadily decrease. Having less volatility, individuals can be more comfortable with using Bitcoin as a means of exchange rather than taking it as an investment. Nonetheless, this will not occur instantly since most users consider Bitcoin primarily as a store of value since it generates profits. Bitcoin needs to be accepted by more merchants, have better payment infrastructure, and more straightforward regulations to be a successful global currency. Bitcoin has the potential to allow international payments to exist alongside both conventional fiat currencies in the long run.