The Bank for International Settlements (BIS) published Working Paper 1392 on November 6, 2026, analyzing the lifespans of 568 currencies between 1850 and 2026. The research indicates a median lifespan of 33 years for state-issued money, with approximately 70% of the tracked currencies having been discontinued due to economic factors.
While social media users cite the 33-year figure to argue that Bitcoin could replace fiat currencies, the BIS paper does not analyze digital assets. The institution maintains a skeptical view of Bitcoin, as outlined in BIS Paper 175, released on October 14, 2026, by Iñaki Aldasoro.
The BIS report titled 'Money and the architecture of trust' argues that Bitcoin lacks essential features for scalable money, specifically a central-bank anchor and credit elasticity. The institution views Bitcoin's fixed issuance schedule as a limitation rather than an advantage for monetary stability.
The BIS has recently focused more on stablecoins, comparing them to exchange-traded funds rather than legitimate monetary instruments. The organization continues to emphasize the necessity of central-bank oversight in defining trustworthy money, positioning Bitcoin as a reference point rather than a systemic threat.
