Can Cryptocurrencies One Day Overtake Fiat Currencies?
On Sept. 7, El Salvador became the first country in the world to accept Bitcoin (CRYPTO: BTC) as legal tender. Even though the rollout has been far from ideal, major food outlets in the country, such as Starbucks, Pizza Hut, and McDonald's, have all began accepting the digital currency as payment.
Bitcoin is up nearly 60% since the beginning of the year, and the latest move should appease skeptics who claim it cannot be used in everyday transactions because it's too volatile. So, could Bitcoin or other cryptocurrencies, one day, replace fiat money?
Image source: Getty Images.
Source Fool.com
