I think its going to be a combination of one and two -
def a store of value like gold but also a currency. I think there will be some level of regulation that some of the larger economies will play around with. I think however those will be limited on account of political unrest.
I am hopeful that actual public servants continue moving into different places of power and populists moves start dictating policy. Such as what is happening in Czech right now.
If thats the case (which I am hopeful of) the free market will have its way and path #1 will happen...
we will se