So I was thinking. According to Google, the 2013 estimates of total m2 money supply in US was 10.5 trillion. So if I owned 1 usd today that would be a so a very small percentage of the total number, yes? But I can own 1 bitcoin today and that means I can own 0.0000048% of total btc supply.. If you think about it, 0.0000048% of total US m2 money would be 504,000 usd.. half a million So can we say that 1 Btc = $500,000? Lets discuss..
Well, if this can only be true then I would not have any problem at all if 1 bitcoin can be worth half a million dollars. However, the comparison and the conclusion may not be that right especially considering that the government has the propensity to print more paper fiat. The supply of the fiat money (dollar in this case) is not a fixed thing as they keep on printing and printing especially when there can be a big crisis on the horizon. And though we usually have the dollar equivalent of bitcoin, it is not tied into it in any way.