additional note: In Response to btctrader71 , at that point you are expecting millionaires and ultra high net worths and banks to only be able to exchange and liquidate your $100,000 bitcoins?? lols in reality I don't get how that would logically and realistically play out X_X and that is scary.
I don't understand your objection. Why would only ultra net worths be able to liquidate my $100,000 bitcoins?
In reality, anyone who (today) owns (let's say) 100 bitcoins will probably convert many if not most of them into other assets (USD, stocks, commodities, etc), a little bit at a time, as the price goes from $308 to $100,000. If your portfolio was 99.99% in one asset [which will happen if your $30,000 in bitcoin becomes $10,000,000 in bitcoin in the coming months/years] it just makes sense to diversify.
And some of it would be "liquidated" by spending it, on things like bedsheets on Amazon and olive oil from Greece and whatever they export from Zimbabwe and whatnot.
Do you realize theres not that many ultra high net worths and they are considered smart money , they run with the herd of money ... meaning they seek safe but rewarding investments like bonds , ventures , funds etc etc ... but yah lols I have no clue how they would liquidate 100 bitcoins at $100,000 or why they would want to liquidate 100 bitcoins at 100,000 (value = $10,000,000) ... i don't get where that scenario plays out ...
Also Sep iras ... arent those meant for the upper end of the employment scale aka self employed / corp and business owners ?!?! correct me if i'm wrong the value is capped at 50,000 because they want business owners to save their income for future fall back if their business / corps fail .... and those individuals generally make way more than that cap so they pay tremendously in taxes lols.
Friendly Side Note: current btc price as of posting 283 USD