Fifteen years ago, Bitcoin was an idea on an internet forum. Now, as stablecoin volumes rival payment networks like PayPal and Visa, bitcoin's adoption by Wall Street in the form of spot Bitcoin ETFs may mark a "potential paradigm shift in the global perception and use of digital assets," said Andrew Peel, head of digital asset markets for investment bank Morgan Stanley. 

In a note to investors, Peel gave an overview of the current threats against the U.S. dollar's current reign as the world's reserve currency, as 60% of global foreign exchange reserve balances are held in dollars. In comparison, China's yuan, despite the country's recent efforts to boost its foreign trade, makes up only 2.5% of those balances. 

However, several "de-dollarization" threats may erode the …