It’s still a speculative instrument in Africa and the rest of the world, and it’s too speculative for it to be reliable. If we’re going to make the case that it should replace fiat currency, one thing we have to look at is the volatility of the U.S. dollar. You can’t replace it with something that’s nine sigma more volatile.
We should note that traditional fiat currencies are critical pillars of how businesses operate today due to their relative stability. Bitcoin’s volatility is a crutch that is holding it back from further adoption; the chances for Bitcoin to succeed as a global reserve currency is high, but only if we flush out the current ghetto of day traders and speculators.
We are done with the first decade of crypto, perhaps the next one will improve the current technology limitations.