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RE: BTC Hash Rate hits another all time high (and other cool things)
It would be interesting to see BTC worth $1,000,000 one day.
In order to get their I think it will take more than being a store of value and a crypto on-ramp.
For it to reach that number, probably needs to be more, though not impossible.
The entire gold market is worth roughly $8 trillion currently, which is mostly a store of value market. At $1 million, bitcoin would be worth $21 trillion (when all coins are fully mined), quite a bit higher than the gold store of value market.
Though, perhaps money from other stores of value, like real estate and collectibles would also venture in...
I wouldn't say it's impossible that bitcoin achieve that valuation while mostly "only" being a store of value, but I agree that it may be difficult.