Is Bitcoin really an anti-bank wildcard?

Bitcoin was conceived as the first sustainable e-commerce network independent of financial institutions. Fifteen years later, there is a lot of talk about how Bitcoin will strengthen the US dollar while financial institutions invest in cryptocurrency. At the same time, it is still possible to encounter statements like “Fiat Money days count.” Is Bitcoin a threat to the traditional financial system?

What do you learn from the Bitcoin White Paper?

Before launching the Bitcoin Network on January 3, 2009, Nakamoto AT released a Bitcoin White Paper, a nine-page document explaining the purpose and functionality of Bitcoin. It is titled “Bitcoin: Peer-to-peer electronic cash system.”

The Bitcoin White Paper has a clear message about the need for banks and Bitcoin as healthier alternatives. Nakamoto says that traditional commercial trading systems “work well for most transactions”, but he outlines some issues he tries to solve using Bitcoin.

He emphasizes that the involvement of the bank between the two counterparts creates additional costs for mediating transactions. More than that, the system faces the task of suffering from fraudsters. Banks need to collect user information to ensure the reliability of their transactions, increasing costs and undermining privacy. Nevertheless, fraudulent transactions are inevitable. Furthermore, bank mediation means that the transaction is reversible by design.

Therefore, Bitcoin aims to serve as a means of remote payments without the mentioned issues, and Nakamoto Atoshi has discovered a technical workaround for issues inherent in bank-operated transactions. Nakamoto emphasizes that Bitcoin is an unreliable system, unlike banks. This means that a third party cannot intervene in a transaction between the two parties.

Nakamoto criticised banks for both white papers and the sophisticated ways of Genesis Bloc, and attached a newspaper headline pointing to the government’s bailouts during the 2008 economic crisis.

However, instead of opposing banks or scrutinizing the banking system, Nakamoto offered alternative systems that could complement the banking system and offer additional options to those who need them. Despite Bitcoin’s own shortcomings, the network lives to this day, gradually being absorbed by governments and financial institutions. Banks have recently created Bitcoin finances.

Bitcoin as a competitor in the banking system

Some view Bitcoin as an alternative to the traditional financial system and central banks, but it appears not to be the case. Bitcoin is suitable for sending transactions all over the world. As history proves, Bitcoin has great potential for long-term value valuation, so it can be used as a value store. The latter feature was the reason why various governments and companies began to grow Bitcoin’s finances in 2025.

Stablecoins are a type of cryptocurrency with great potential and importance. Those who can’t set up Bitcoin volatility prefer stablecoins as a valuable storage and as a means of remittance. More than that, Stablecoins may have something important to central banks, but we’ll address this in the last section of the article.

Bitcoin itself is not suitable for exchanging banks. It does not regulate interest rates or manipulates money printing. You cannot use Bitcoin to get a loan (but you can do it through certain defi platforms that we won’t cover in this article).

However, while Bitcoin and other cryptocurrencies are used as stores of value and transfer tools in multiple African countries where millions of people do not have bank accounts, smartphone penetration is high and there is an opportunity to use blockchain-based solutions as an alternative to banking services. However, the main type of code in Africa is stubcoin.

read more: The African crypto revolution continues as Ethiopia ranks among global BTC mining leaders

Finally, there is a way to reasonably interpret the message about the potential defeat of the Fiat Money System into Bitcoin. It should not be understood as a bitcoin that literally replaces Fiat Money, but as a preference for Bitcoin over Fiat Money when it comes to savings. Some people prefer to save money with Bitcoin. Because its prices are more sustainable than the currency of our country.

So when someone responds to another Bitcoin price spike saying “Fiat money days are counted”, it means that saving money in the country’s currency is becoming increasingly unreasonable. However, as of 2025, it’s easier to spend money using traditional paths.

How do institutional investors and governments make Bitcoin an equipment?

Institutional investors are becoming more and more interested in Bitcoin. It’s early to declare that Bitcoin is normal for all of them, but these days, Bitcoin is far less remote than in 2017 or 2021. They are beginning to recognize Bitcoin as a strategic investment.

The latest Gallup poll shows that only 4% of Americans who view Crypto as a valuable investment prefer to invest in real estate, gold and stocks. However, in 2024, Bitcoin investments produced greater returns than Nasdaq stocks. Professional traders and investors never noticed.

BlackRock has a Bitcoin-based ETF called IBIT. The capital management giant recommends that up to 2% of its portfolio be allocated to Bitcoin. BlackRock manages over 625,000 Bitcoin. This is almost 3% of the total Bitcoin supply.

The Bitcoin ETF, approved in early 2024, allowed huge institutional investors to take advantage of the ascending value of Bitcoin. Strategy (formerly known as MicroStrategy) has become a standard-based public company for Bitcoin. This means collecting more and more bitcoins at the Ministry of Finance. That stock MSTR has become the fastest growing stock.

The government sees the use of Bitcoin in a variety of ways. For example, Russia and Iran use cryptographic information, including Bitcoin, to bypass Western sanctions on foreign trade. North Korean hackers steal codes to fund the country’s nuclear program. The US needs Bitcoin to weaken the US dollar, which leverages its export business, but the popular USD page stubcoin continues to maintain the dollar as a global reserve currency.

Conclusion

It’s difficult to say that Nakamoto itself is fundamentally and fundamentally anti-banking. In his white paper, he outlined only a few issues with the banking system and provided a workaround. Bitcoin was created to enhance individual economic independence, but now it has become a staple of Wall Street and the government. Love or hate it, the anti-banking spirit is not mainstream among Bitcoin investors.

You might like it too: What is the Genesis block? Power Blockchain Network