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However, with Bitcoin's block reward being 12.5 currently, that means each block reward would be $625,000. This comes out to $90 million per day on average.
not sure how you are calculating these numbers! bitcoin price is currently $6700ish
12.5 * $6700 = $83,750 per block
24 hours/day * 6 blocks/hour * 12.5
BTC/block = 144 blocks/day * $6700 = $964,800
you can round this up to
$1 million. where did you get $90 million from?
He's clearly talking about the hypothetical $50k per 1 BTC scenario ($625k/12.5=$50k).
I agree there's a common-sense limit on BTC price expectation. I don't see how BTC could reach sustainable ~$50k without making a significant improvement in terms of adoption and usability. So we'd need either: 1) BTC establishing itself as a currency of alternative global economy (where large number of people actively spend & earn in BTC); or 2) some apocalyptic scenario, i.e. global financial system collapse, where people lose faith in fiat currencies altogether.
Of course, BTC could hit even $100k with market manipulation/speculation alone, but I wouldn't expect cryptos surviving for very long being only a speculative assets.