> But eventually, Bitcoin will reach a value high enough that more and more people will start accepting it alongside fiat I think you've got the causality ther

> But eventually, Bitcoin will reach a value high enough that more and more people will start accepting it alongside fiat I think you've got the causality there a bit backwards. The exchange price of bitcoin is mostly irrelevant to a business deciding whether to accept it as a currency or not. What businesses care about is stability, transaction fees, customer convenience, and the difficulty of implementing and maintaining the payment system. They couldn't care less what the _current_ exchange rate is. Whereas on the other hand I suspect Bitcoin speculators care very much about mainstream acceptance of Bitcoin, and therefore wider adoption by businesses is indeed likely to drive the price up.