I don’t think this is at all the reason that it’s not a store of value. It’s not a store of value as the supply is infinite. You’ll read in many places that o

I don’t think this is at all the reason that it’s not a store of value. It’s not a store of value as the supply is infinite. You’ll read in many places that only 21 million tokens will be produced. This is false. You can freely create as many new ones as you want by copying and pasting the source code any time you like. That one is on the “real” chain and another is not, hasn’t actually mattered at all - as long as another chain can be perceived to have any value, the original is undermined. Satoshi wrote about this at the very start - the notion that if it ever came to have any perceived value, even a minuscule value, then it’s achieved its goal of being transferable. That’s true of any and all others too, though. This has been seen many times over the decade since: any time the perceived value climbs steeply it’s seen as being “overpriced” and money starts flowing into smaller “underpriced” tokens, nullifying it’s use case as a store of value. Slowly and eventually I think the passive speculators will come to learn this, it’ll stagflate, then it’ll decline back close to nothing when it’s not producing the 300% CAGR it’s holders demand.