I would kindly disagree :-) and I'll explain why:

For Bitcoin to go up in value *sustainably* there will have to be constant demand for it. You could use monetary supply arguments saying "the price is proportional to the total transacted volume divided by the velocity". Now you'll say "Great, the velocity is super-low if people use it as a store of value", which of course is correct. But: the monetary supply argument only works in efficient markets with little speculation and manipulation.

However (there's gotta be a however), this will only be the case once Bitcoin is *actually used* as store of value *at scale*, like gold. In that case, it is likely to be the better gold, because it's easier to store, more liquid and - in case you can exchange it for something really useful in case of a crisis - more versatile. So for that argument, it would be great if you could use Bitcoin to buy stuff rather than just exchange it for fiat.

Anyway, the second argument is more important: Bitcoin's volatility is too high in order for it to be a reliable store of value. Even worse, its trading liquidity is so low and the markets so unregulated that the price is easy to manipulate and basically set to a level someone with a (larger) bit of money wants to set it to. This could be watched last December when a 1000 BTC market buy order caused the entire crypto market to go up 15(!)%.

In order for Bitcoin to become less volatile, we need:
- A steady demans
- A steady supply

Both of which can be created by Bitcoin being widely accepted in (e)Commerce. It's not the only way, but probably the "easiest".

You really are like an economist, I think you were a math teacher, is that true?

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In this new digital age where information is the new gold, Bitcoin will eventually vastly outperform that measly 8 trillion dollar market cap.

It's only going to take 7 years.

This has already started to happen as large money managers are providing allocations to the asset class as a way to store value and diversify their portfolios! Like gold, it will become somewhat commoditized which will reduce its volatility and attract more investors.

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But more adoption would be a great thing 👍💰👍

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To support your work, I also upvoted your post!


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Bitcoin did it alone in the past and it will do it again it is the value