The US is thinking about issuing 50 to 100 year treasury bonds. Seriously? So much borrowing that the bonds are being structured to attract buyers in any way possible so they will buy them only to have their investment paid back to them with printed unbanked paper. Everything that could be borrowed from the US population has been borrowed. Now the Americans are the largest holders of the $20 trillion debt. The media tries to cover that up be saying China is the largest holder (which they are of outsiders) but their holdings are a tiny fraction compared to what's American citizen's are owed.
China doesn't like holding US treasuries since the Federal Reserve prints money at will (fractional banking) that waters down the $USD. It's like the US borrows money and then prints more to pay back the debt. The USD is unlimited. Bitcoin is limited. recent price increases except oil and resulted products is due to a weakened dollar.
Bitcoin is a limited commodity. It is not controlled by a political body. It is the ideal hedge for all currencies. It just needs enough critical mass to broader participation. It's still a baby but I believe it has enough inertia to fend off other cryptocurrencies initiated by the 1% and central banking systems that want to capitalize on opportunity or control. Bitcoin is organic and will preserver or established few will forever be in control benefiting only themselves.