With btc there is no way for multinational corporations to lock in their risk with btc. With the US dollar, a farmer, miner, oil producer can sell future contracts locking in profit margins. They can contol their risk if the dollar goes down. With btc and it´s wild swings, a million dollar sale could turn into a million dollar loss regarding profits with btc losing 9% in the last three days. I do not see multination corporations using btc until they have a vehicle to manage risk, locking in profit margins.
I also believe retail are the main drivers of the current btc rally. Where volume is coming out of China. Chinese people are using btc to expatriot yuan and convert it into dollars. This seems more like what people are willing to pay to get out of a shitty national currency (yuan) and into USD.
Just looking at the btc parabolic rise it is comparable to previous bubbles, NDX yr 2000, Silver yr 2011 and has eclipsed the Dow Jones stock market bubble yr 1929. I believe the more btc continues to go parabolic, the bigger the bubble it will become, if the top is not already in. I do not know, picking tops is impossible. btc bubble comparison chart. https://www.tradingview.com/x/FhGQdkai/