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While I believe Bitcoin to be globally accepted currency in the future I don't think we are there yet. In fact, I don't think whatever is to come has even gotten started yet. We will probably look back and see it has begun, but all those things are still in front of us. I very much hope that through it all crypto decouples and becomes the hedge we know it to be.
As for reference, I see it staying as USD. USD has become the reference for the entire world. I watch YouTube travelers that go to struggling countries and they even price their own currency in terms of USD because their's is so unstable. Maybe BTC will become that reference one day, but I don't see it anytime soon. What does 0.00002431 BTC really mean to the average person, though its equivalent of $1 can be comprehended.
Even if the dollars buying power has been reduced I think we would still use it as a reference. It would have to be until BTC is used as much as USD is now to the point that saying 0.00002431 BTC is instantly as meaningful as saying $1 USD