Bitcoin will eventually replace the U.S. dollar and all other fiat currencies. When this will happen, nobody knows. However, a recent UBS study concludes that for Bitcoin to replace the U.S. currency, it has to reach a value of about $213,000 USD.
Fiat money and traditional banking are a three-thousand-year-old concept and technology, which cannot efficiently support today’s economic model. Therefore, they have to be replaced by a neutral, borderless, and frictionless system, such as a decentralized peer-to-peer electronic cash system: Bitcoin.