What’s important to notice about both immutability and bearer instrumentation is that a money can’t have either property if there’s a central point of failure.
Why You Can’t Shortcut Trust
Jimmy Song

This is an important point but missed one key thing….bearer instruments were a promise to redeem. The key thing about money is actually its redeemable characteristic. Crypto currency will be accepted when people trust that the bearer can redeem for at least one reliable product, service or asset. It is their demand for this thing and the fact that the token is the way to get it that drives the seed of trust. In fiat currencies the seed of trust is struck by Gov insisting that its taxes and services get paid in its fiat. Explained as a parable in recent post https://medium.com/@gary_28206/a-parable-of-fiat-money-and-cryptocurrencies-ffde93900b2a