Good arithmetic here, but: There is a reason the welthy, and most other people for that part, have little money and lots of stuff. The reason is the inflation. What you call appreciating assets, is mostly inflation-safe assets. With sound money it is different, you don't have to panic buy these assets, therefore the demand for sound money might be higher than for fiat money, supporting a higher money value.
The point is that even if someday Bitcoin is worth more than all the currency in the world that is still a small fraction of all the wealth in the world. Your house isn't made of currency, Google isn't made of currency, the patent for a new drug ins't made of currency. They all contribute to the wealth of the world though.
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That is correct, and the value of all currencies in the world will be the sum of what the people of the world wants to keep in liquids, either for saving or just for having handy.