[0xdeee]

That’s the definition of asset appreciation. This is comparable to buying gold 100 years back vs now, no one is complaining Gold is doomed because it was dirt cheap a century ago, not did gold lose its ability to retain value because it was getting expensive. Although the rate of growth won’t be this explosive for BTC in the future as it is now.

Late adopting rich people might still get into BTC ETF for its ability to maintain its value in the long term, as simple as that and doesn’t matter at what price they buy.

[Enogoloyo]

Gold is getting consumed and still mined.

BTC is made 1 per 10 minute.

BTC is not gold

[0xdeee]

Exactly they aren’t. But they have some parallels in properties (fungible, less prone to inflation etc)

But gold or any other precious metals for that matter still has a flaw of having unlimited supply. Yes the supply is limited on earth but we are only couple of decades far from mining asteroids like 16 Psyche.

Flood the market with gold, it will drastically lose its value and this will indeed help its consumption like manufacturing of electronics etc but gold as an asset would be pointless.

This cannot happen in BTC, which is programmed to have finite supply.

[Enogoloyo]

BTC has no finite supply.

Its domination will just change / already has.

I bought weed with BTC for years, I never cared how much it's worth I just used the current dominator value for 10g weed.

Not sure what advantage fungible should be? Even bills are fungible.

And there is no reason to assume BTC is less prone to inflation. BTC right now is not even stable enough to be deflationary or inflationary.