How long must the protocol run before everyone accepts the fact that Bitcoin WILL surge towards 6 digits, and possibly become stable at 6 digits after 2 more bull cycles?
I remembered before the halving on May 2020, months before that, theymos had a post in which he wrote that
it is unrealistic to hope that Bitcoin will reach to a price at which Bitcoin whales might own assets that are much bigger than national asset of small country.
I agree with this point but I can not find this post now. You can DYOR and find it if you have time.
Despite the possibility that nation-states will also start HODLing Bitcoin? El Salvador might only be the beginning. I believe when nation-states start to understand that they need to hedge, and HODL Bitcoin as protection against the possbility that they might lose control of the economic/financial system, they will hedge.