OP you are limiting Bitcoin's potential by thinking it can only be as valuable as gold and therefore only attain a price of $650k.



Bitcoin is much much more useful than Gold. I mean if it wasn't, there wouldn't be much reason for it to exist.

Gold has a little bit of its market value in its use in electronics. Gold has a lot of its market value in jewelry and other uses of it for aesthetic or ceremonial purposes. But I believe most gold is stored in vaults and used simply as a store of value. Bitcoin doesn't have the electronics and aesthetics/ceremonial uses like Gold does, it only has the monetary use. But Bitcoin is orders of magnitude better in its monetary use case than Gold is.

We should therefore expect the value of the bitcoin market to far outstrip gold's value. I would say when Bitcoin's market cap reaches the market cap of Gold that is the BEGINNING of Bitcoin's market starting to mature, not the end. Today Gold is about $13 trillion, I expect Bitcoin to eventually have a market cap of several tens of trillions of dollars in today's dollars. So when accounting for inflation by the time Bitcoin gets to say $50 trillion it'll actually be in the hundreds of trillions of dollars against USD at that time.

Even once Bitcoin is fully mature and is worth several times over what the Gold supply is worth, it should still continue to gain value faster than Gold because Bitcoin is highly useful not just as a store of value but as a currency which is a greater use than just store of value and electronics and aesthetic purposes. Also the fact that Bitcoin is scarcer than Gold will continue to make it the best store of value in the world.

Bitcoin should surpass Gold's value within 10 years, and even at that time Bitcoin will only have captured a fraction of its eventual market.