That’s it exactly. The discussion around bitcoin is still quite narrow in most places, over whether it will replace gold, serve as a hedge, reach 2000, 3000, 30000, etc.
Regardless, bitcoin is a previously unheard of monetary device (for lack of a better term) that is stampeding all over central banks and getting away with it. Transacting behind their backs. Sure, we see resistance at the governmental levels, but Goldman is supporting it!
This is a bit strange when the other side of the spectrum, the anti-“fiat” money crowd, has been heralding it as the new solution for subverting devaluation, inflation, crises, and other nefarious central bank engineered activities.
Bitcoin may not be anything special, and it may not even last much longer, but it certainly is special in the new era it is ushering in. Some believe it’s a first step in establishing a global currency, which I wouldn’t be surprised to see, especially the way the USD is being talked down as being a reserve currency.
What we should be considering here is not what bitcoin is now, but what it represents in terms of the future of currencies and global economic policy.