Lead Monero developer Riccardo Spagni said that Bitcoin will always have competitors, but it can become the global reserve currency.
Spagni stressed that Bitcoin will never remain the only cryptocurrency, as this contradicts the very nature of human society, where struggle and competition are inevitable.
"The chances of the entirety of the world agreeing to use Bitcoin only is like less than zero. I don't see a future where Bitcoin is the only digital currency that anyone ever uses,"said the Monero developer.
Spagni said that he sees the potential of Bitcoin to become the world's reserve currency. In addition, he stressed that the first cryptocurrency can provide a sufficient level of anonymity, and thanks to the Lightning Network, the problem of scaling is no longer so acute.
However, for users who want to get a greater level of anonymity, Monero cryptocurrency will always be available.
"Where multinational corporations want to move money around without tipping off their competitors that they're moving money around you know where people in South American countries that are at risk of being kidnapped and extorted for their money are able to still receive this salary,"noted Spagni.
At the beginning of the year, the chief developer of Monero expressed confidence that the regulation of cryptocurrency would increase and could become one of the most important pillars of the industry.