Will Bitcoin replace the Fiat Currencies- Sooner or later?- hyperbitcoinization

Dear Readers,
Ever since the growth of the cryptocurrencies worldwide, there has been a serious debate going on with the Crypto Assets and the Fiat currencies that the Crypto currencies would beat the fiat currencies in the future.
While the fiat currencies are minted with the underlying values and centrally controlled by the respective national governments through the Central banks, the crypto currencies are decentralised and are progressing without the regulatory framework of the governments.
The Covid lock down in 2020 made a significant investor base significantly from the retail investors segment over the cryptos and the stock markets world wide. Increased awareness on this financial asset class were also spread across various digital media including the social media handles.
Ever since the El Salvador adopted and announced Bitcoin for the legal tender, there were increased voices raised that the crypto assets would replaced the fiat currencies.
The Deloitte’s Global blockchain Survey in 2021 contributed a lot where in it has come out with 76% of the respondents were in favour of the Crypto Assets would be an alternative to the fiat currencies and there was an high anticipation that the Crypto assets would replace the fiat in the next 5-10 years.
Various companies including Tesla had accepted the payments in few crypto currencies were boosted a lot.
All these debates were silenced for silenced with the disastrous performance of the Cryptos last year and the collapse of various anticipated the promising projects and the leading exchanges especially FTX, many were in deep dilemma to back with the crypto assets.

With the increased popularity, as an initial control measures, various countries were also come up with various regulatory frameworks and made the crypto assets under various high range tax brackets. They have also introduced the CBDC(Central Bank Digital Currencies) which would be the digital currency with the underlying value of their fiat currencies. But they are fully centrally controlled. But with the basic block chain features of decentralisation would not be there.
Moreover, many investors are seeking interest in crypto markets and see this as a potential investment instrument to multiply their money. The CBDC will only be an equivalent digital instrument for transactions. The crypto raise in the recent weeks also gains interest from the global crypto community again. The spectacular rise of all the major crypto coins witnessed a regained energy and interest again with the crypto community.
By this time, the digital assets have developed a lot with Defi Projects, NFTs and Metaverse. People liked these developments and various companies have adopted to transform themselves to match to the current needs to meet the markets. 
Now the crypto ETFs were approved and attracted so much investments from the institutional investors across the globe. Many companies also started to have BTC reserves. Various countries also keen to explore to have BTC reserves as well. With Donald Trump as US President again with the anticipated pro-crypto policies, the feelings are running high on cryptos.                        A study published by Finder.com in 2021 have triggered with some interesting points on hyperbitcoinization- some interesting conclusions regarding the prospect of hyperbitcoinization- which can be defined as the moment when bitcoin becomes the world's dominant form of money. People will also value bitcoin more than fiat currency or precious metals.
Hence we can anticipation of the hyperbitocinization soon!
Looking forward the days ahead!!