Yes, Bitcoin can be used as a widely accepted form of currency in some cases. Below are some strengths and weaknesses of using Bitcoin as a medium of exchange:

Strengths:

International Reach: Bitcoin is not bound by national borders, so it can be accepted and used globally without the need for conversion into local currencies.

Fast and Convenient Transactions: Bitcoin transactions can be conducted quickly and conveniently online without the need for complex steps or time constraints.

Security and Safety: Bitcoin's blockchain technology provides a secure and safe transaction environment, helping to prevent fraud and trace every transaction.

Weaknesses:

Price Volatility: The value of Bitcoin can be highly volatile, posing risks for parties engaging in transactions or using it as a medium of exchange.

Limited Acceptance: While some shops and businesses accept Bitcoin payments, its acceptance is not widespread and may encounter difficulties in some areas.

Transaction Fees: In some cases, Bitcoin transaction fees can be high, especially when the network is congested, increasing the cost of transactions.

In summary, while Bitcoin can be used as a widely accepted form of currency in some cases, there are still limitations to consider before using it for everyday transactions.

Source: https://goonus.io/markets/BTC_USD