Everyone could get 1 million dollars loan from bank and purchase bitcoin and then they can get a guaranteed income during rest of their life. Unlike IT and housing, the spending on bitcoin is an investment like pension fond, but the return is much higher than pension fond
Since there will not be excessive supply like IT and housing, the bubble won't burst, it will just grow and grow and grow
I am pretty sure there is a hole in that theory, but I am sure someone else can explain it better than I can.
The error in this theory is the word "everyone". If it works at all, it can only work for some early adopters. Getting a 1 million dollar loan from a bank is also not easy unless you already are welthy.
Since the appreciation speed of bitcoin is much higher than houses, it is possible that you will get one million dollars loan from banks to purchase bitcoin, and bank hold those coins as mortgage. For banks this is interest income, why not?
I just saw a bitcoin investment fond promised their investors a 20% return each year on their fiat money investment, since bitcoin's price rise quickly, such kind of return is almost guaranteed. And if you have some thing can generate guaranteed 20% return each year, most of the banks will provide you a loan