Easily could and my view is we are heading towards this everyday. Bitcoin needs to have roughly a 400k market cap to have the same market cap as gold and many in the industry think that is achievable long term. Let say this happens and in 10 years bitcoin is worth more than that then at that point people may tuck some under their beds for "safe haven". However, I would also argue that Bitcoin doesn't need to reach 400k for people to believe in it as a safe haven as little as $25 dollars may be your safe haven if you are in a country like Venezuela you will likely have a paper wallet or just remember your 12 word seed in your brain.