| > ... That will inevitably come to an end, if for no other reason than there isn't enough money in the world to sustain its historic rate of climb. ... The amount of "money" (fiat currency) in the world is potentially infinite. For a preview of what this looks like, have a look at what the Bank of Japan has been doing for the last few decades. In the last few years, Japan has undertaken a bold new experiment: yield curve control. The idea is to set all rates for all treasury durations, by buying every bid that comes in low. Every single one. https://www.reuters.com/world/asia-pacific/bank-japan-vows-l... Now, I'm not saying this validates the view of Bitcoin as a store of value. But I am saying that the world's governments can debase their currencies to infinity and beyond if that's what it takes. This sets up a potentially very meaningful dynamic in the years ahead. Money gets instantiated by governments, distributed to the public, and then dumped into Bitcoin by organizations and individuals eager to avoid debasement and the loss of capital that involves. In that scenario, Bitcoin begins sucking up the world's liquidity. The more that gets produced, the faster Bitcon sucks it up. Infinite source of fiat currency meets inflexible supply of bitcoin. Now, I'm not saying this will happen either with any certainty. But it is a possibility. The last 2 years have hinted of what that possible future might look like. |