Bitcoin Growth Potential
I was just curious what everyone thought about the growth potential of Bitcoin. It is currently the 10th largest asset by market cap. Bitcoin is at 1.13T USD. Gold is in first at 15.8T USD. Total USD (Fiat currency) in circulation is around 2.2T USD. If Bitcoin is to get to $1M, then it will surpass USD (Currently considered the global currency, but that could be coming to an end soon) and will also be the largest asset by market cap.
Though these aren't necessarily fundamental barriers that prevent Bitcoin from growing larger (since it's really driven by supply and demand), it suggests to me that Bitcoin is past the previous growth stages that we've seen and is probably going to stabilize around the kind of growth rate it will follow long term but continue to be volatile.
I think the biggest believers of Bitcoin don't buy it as an investment so much as with the idea that it is a more appropriate store of value than fiat currency since it's decentralized nature makes it more resistant to large-scale manipulation and the fact that it's deflationary reduces the amount of value lost long-term to inflation.
I'm just curious what everyone else's thoughts are.
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