A long way to go. Some really bad things have to happen to run up that much.
Discussion
Not necessarily. One of the silliest things I hear people say when talking about things like gold or bitcoin being repriced by inflation is, “but you wouldn’t want to live in a world with $10,000 gold” “or but a loaf of bread would cost you $50…” Gold did an 8x move from 2001 to 2011 and it didn’t turn into a mad max world. Bitcoin has been doing about a 20x + every four years (mathematically this can’t continue) for the last 14 years and bread is still affordable ish.
The move from conception to now is a lot smaller in real terms than the move that would happen from 27k to a million. Cannot compare it by multiplier imo.
I buy that argument, but 1 million in BTC in seven years is very possible without really bad things happening. Obviously “diminishing returns” has to happen.
I highly doubt. The amount of bitcoin on exchanges is pretty large despite some bitcoiners dishonestly manufacturing fomo by saying it’s shrinking.
What bad things? I can only see good things.