That’s a big “if” to hang “inherently” on. Bitcoin has no credit market yet; until that exists we don’t really have “money” in the sense that a Keynesian or mon

That’s a big “if” to hang “inherently” on. Bitcoin has no credit market yet; until that exists we don’t really have “money” in the sense that a Keynesian or monetarist would use. Once it does, if it does, then demand for specie will coincide with demand for credit, which will be priced independently but whose pricing data will feed into valuations of the underlying. At that point all bets are off - demand is not a simple thing when we talk about demand for money right now as opposed to demand right now for money in a year. The supply of credit is unconstrained except by the risk preferences of creditors, especially in the absence of a substitute for a risk-free rate of return.