Go look at any stats on coin capitalization. Just in the last two years alone, bitcoin has fallen from 60% to 40%, and the big guns have not even gotten on the playing field yet.
“As far as bitcoin being overtaken, maybe.”
So if you’re invested in btc and expecting $500,000 years from now, it does matter.
Most of that (probably 90% of the non-bitcoin market cap) are:
*ETH and ETH forks (probably in anticipation of the Flippening, which still hasn't happened and probably won't in the near future), and otherwise offer different use cases with digital contracts and NFTs
*Stablecoins, which are inherently not speculative assets, yet build network and market support for blockchain payments
*transactional-joke coins like Doge and SHIB, which are actually useful for smaller ticket transactions, but are useless as a speculative asset
I see all of the above actually building support for bitcoin being the crypto asset king.
As a mechanism for transactions, we'll see. Big ticket, luxury, and real estate are already exploding in bitcoin transactions, and downstream mid-small ticket retail is getting on board. It's still 60% of the transaction volume that we see, even without widespread Lightning support.