In order for bitcoin to hit levels of $250,000+...... it will need to be accepted and marketed everywhere. So far, Microsoft accepts bitcoin. This could be the ice breaker and the door opener for other companies such as Apple, Sony, Google, etc down the road, eventually leading to retailers such as Walmart and franchise such as Mcdonalds.
In order for bitcoin to take off to levels that seem ridiculous right now, we will need to see the average Joe not only be holding bitcoin..... but also be spending it. (In this case, $250,000 could possibly be severely underestimated)
But you are missing out how the power of holding will be helping bitcoin to have higher price levels. Spending is good but we cannot expect all the people around the world to spend bitcoin for some product services when they do not have enough merchants to accept bitcoins. The only option in front of them is, spending bitcoin for fiats conversion. That is the only reason bitcoin prices not increasing.
When we are having more number of merchants will be accepting bitcoin, people will automatically spend bitcoin for their daily life's needs. In that case bitcoin will have its value in millions too.