Maybe. Just remember that bitcoin can get to a 100 million dollar valuation mark.
But when this happens, how much is a gallon of milk? If it is 10k USD then the real purchasing power would be little changed.
When bitcoin is 100 million, I'm thinking a gallon of milk would be 150 USD, not 10k. hehehe... Some other commodities will shift prices in weird ways, everything will have gone up but not proportionally. Some more than others. High end laptops and phones or other electronic gadgets will still be below the $1k USD mark except for iphone 200s and Samsung S2000s. (that's the future model number, not the price.) ... Chromebooks will still be below $500 on average.
But that gallon of milk? Perhaps people are bartering gadgets for milk then ... here is my laptop, give me 5 jugs please.