I don't think Bitcoin can replace banks. Bitcoin and banks have their own advantages and disadvantages, and each has its own value. They always play different roles in our lives, so we can't say who can replace who. As a centralized financial institution, banks have many advantages that Bitcoin cannot provide. Take the information advantage of banks, for example. Banks can solve the problem of information imbalance between the supply and demand of funds through the information advantages accumulated over the years, and greatly reduce transaction risks. At the same time, if you keep your money in the bank, if your money is lost for various reasons, the bank will help you find it. But if your Bitcoin wallet is lost, you will never get back your assets.

The idea of BTC replacing banks doesn't seem right to me and BTC is not originally created as a replacement for banks but rather as an alternative way of making transactions with other people digitally without any third party. Moreover, the government won't even allow it at the very beginning since they don't have the authority over BTC.