I recently bought some Bitcoin with a bit of disgust but I'm not a fan. It has effectively no utility except "volatile store of value". Most people actually bu

I recently bought some Bitcoin with a bit of disgust but I'm not a fan. It has effectively no utility except "volatile store of value". Most people actually buy it because they expect more than a store of value, they see it as an "investment" which will gain value over time. But at some point an equilibrium will be reached where x % of world wealth will be allocated in Bitcoin and this x will remain stable over time and Bitcoin growth will slow down to global GDP growth (just thinking aloud, maybe this is wrong). At that point, people may start to think, why the hell should I have my wealth in something that is expected to have similar returns to long-term government bonds but is also much more volatile and can go down to zero because unlike gold, there's no floor, it has no intrinsic value, it's all based on what people believe.