❓ [Analysis] Can bitcoin become a dominant currency? – WSJ

Lisa Ellis: Yes

• The demand for an alternative to fiat currency exists (50% of people live in 1/98 countries that have had at least one year in the past 10 when inflation was above 10%)
• Consumer payments companies are still reliant on the stability of the underlying fiat currency
• With BTC futures coming, stability will come
• Scaling solutions like Lightning Network will increase the transaction capacity
• As consumer demand and comfort increases, merchant acceptance will follow
• Crypto custodian services and hardware wallets are increasing security
• Major countries are sorting through how to appropriately classify crypto

Tim Swanson: No

• Crypto price is not utility-driven value
• Merchant adoption has been sparse
• Few people who own crypto actually use it, instead, they mostly speculate
• Bitcoin is not a good medium of exchange
• Governments are not ready to accept crypto