That's really not an accurate way to look at it though. While the riff raff wonders how they can buy coffees with it, big corporations and billionaires are buying the coins from the weak hands and flippers. It was never designed to replace currencies for typical transactions. Its not particularly great at that anyway in either speed or cost. It will never replace a nation's currency unless the nation wants it to and even then it would require a currency like secondary layer anyway.

Its not digital currency its digital gold. Its a store of value like gold, some real estate; even stocks are starting to take on that role. The more one thinks "cash is trash" because its a double digit per year melting ice cube of intentionally devaued and debased (aka stolen) monetary energy, the more one moves that entropic decay into something else anyway. Look at some of the insane PE's that are laughably blown out yet continue to attract currency. Real estate is higher than before the 2008 crash. There will always be stores of value people move cash to. Even artwork and collectables can sometimes surge when currencies are wielded as a weapon to steal from the working class.

Bitcoin still requires cash to get into and in most cases cash to get out of. KYC/AML regs will only help it long term. Its barely used for criminal activity as it is and much less so than cash anyway. Its value isn't derived much at all from its perceived anonymity (every transaction in its history is open source and verifiable anyway). The vast majority of it is value is from its value storage properties that make it superior to pretty much everything else including metals. "Its pharmaceutical grade digital gold that stores infinite monetary energy over time without power loss" as Michael Saylor says.

Some talking head just popped off about how the real news with TSLA's Bitcoin purchase is that it enables customers to buy cars with Bitcoin. That was so stupid I can't believe they have an analcyst dumb enough to actually think that.