For bitcoin idealists, the coming utopia for global finance stars bitcoin dismantling the fiat hegemony, empowering citizens to own their money without central bank mediation, and facilitating borderless trade. Credited to Satoshi Nakamoto Institute co-founder Daniel Krawisz, hyperbitcoinization is a term which describes bitcoin coming to dominate the global currency basket through mass adoption.
Fiat Currencies in Race to the Bottom
Should hyperbitcoinization occur, it will almost certainly be fast-tracked by bad policies. While some countries are clearing the turf for cryptocurrency through soft touch regulation, others are unwittingly doing the same by failing to contain inflation and maintain liquidity, culminating in a breaking point where citizens will be forced to take back their financial freedom through alternative currencies, primarily bitcoin.