We're always reading projections and predictions about the price of several assets, not just Bitcoin, and whenever the prediction or that projection gets a little bit too high, a little bit too bold, people always respond with the same objection.
"That can't happen, because that'd represent a $XYZ billion/trillion market cap, and that's impossible," critics say.
In other words, they're saying there must be some kind of ceiling for certain assets because they just think it's not realistic. Like it's not possible for certain assets to go above a certain market cap.
I get the reasoning, but it's silly.
There is no rational or logical reason to believe that there's a ceiling at all for any of those things.
There is no reason to believe the price of gold will ever stop rising, there's no reason to believe companies won't be worth trillions or hundreds of trillions in the future.
Why? Because the value of the dollar is increasingly going down, and fast.
If you had $20,000 in the bank 20 years ago and no income, you had a bit of a cushion. If you have $20,000 in the bank today and no income, you're a few weeks - months if you're good at managing money - away from trouble.
There's no reason to believe there won't be a trillionaire soon and by that token there's no reason to believe Bitcoin won't get to 1 million, or 100 million.
It may go to zero, but if it doesn't, it'll keep going up.
Elon Musk's net worth proves it.
Earlier this month, Musk became the first person to reach a net worth of $500 billion.
When I was growing up, which is not that long ago, the richest person in the world - year in, year out - was Bill Gates.
His net worth was generally tens of billions.
Now, you'd be hard-pressed to find anybody in Forbes top 10 with the net worth smaller than $100 billion.
That's because money, as in fiat money, is becoming increasingly worthless due to inflation.
That's something else I don't understand.
Inflation sometimes accelerates, and sometimes it slows down, but if you zoom out, it has never stopped.
Not ever.
You can pick any random month in the past, and money on that specific month was always worth a little more than it was a few months later.
And this has never not been true.
Never.
