We’ve discussed what tokenized bitcoin is and what different implementations exist. The main driver behind tokenizing bitcoin as an ERC-20 token is to increase the utility of Bitcoin. 

If Ethereum can capture a significant portion of Bitcoin transactions, there could be major implications for the future. Is the flippening a realistic scenario? What portion of the Bitcoin supply will be transacted on Ethereum in the future? This remains to be seen. However, the whole blockchain industry could benefit from building bridges between the two largest cryptocurrency networks.