My .02:

Far more people in the world want US dollars than anything else, including Euros and Bitcoin. Euros and other currencies are not the global reserve. Bitcoin is far too volatile for poor people to spend with. So a rational way for this to play out is:

People immediately convert their local incomes into US Dollar stablecoins.

They then HODL a little bit long-term in Bitcoin, as they can afford to.

As they consume necessities, as-needed they convert some dollar stable coins into their local currencies, whether pesos or euros, and whether paper or digital forms.

Dollars are melting, too, but not as quickly as pesos, etc. Bitcoin protects purchasing power long-term but, in 2025, is still too volatile short-term to rely on for next month’s rent.

The above seems a logical strategy for global consumers to best address their failing currencies and rapid local inflation rates, and meet their current needs, all on their cell phones.