Notes:

1. Prices are in CAD

2. I actually expect the average price or homes (in fiat) to flatline for a while. Based on our current interest rate environment.

So I think the $1.5 million is high

2. The bitcoin price (even at $37M) is also conservative.

I used the price from 2013 and 2023 which includes a down year (2023) so the multiplier should be higher

In addition to that we have to consider what goes us from $14/bitcoin to now $62k/bitcoin. Less than 1% of people hold bitcoin. We have a long ways to go.