And JJG is of course correct when he says that this could as well take 50 or 100 years because it would indeed be positively ridiculous if bitcoin's market cap would overtake that of gold within 20 years of its existence, considering that gold has thousands of years of history to look back on.
When I mentioned 50-200 years, I was referring to bitcoin reaching 1,000x gold's market cap.
Bitcoin could reach parity with gold's market cap this cycle or next cycle.. that is a much easier target, and surely even bitcoin reaching parity with gold's market cap (which might be in the ballpark of $600k to $700k per BTC) is not even guaranteed to happen, but surely it is not impossible to do or even unrealistic in this cycle.. perhaps even greater than 10% odds for this cycle, just like there perhaps could be odds approaching 0.5% for BTC to reach $2 million this cycle..
I fully agree and I know the reasons why you say that. I think many of the folks here don't grasp the whole picture and every time they compare gold market cap to bitcoin market cap, something inside tells them this isn't possible, parity isn't possible because of this, because of that, because of whatever.
But you are indeed right that there are plenty of reasons to believe it does reach parity, while there is no need to be naive and push any and all skepticism aside. I don't know if you'd perhaps miss the topic, so I leave you a link here of a quick overview that I just put together about bitcoin vs. gold and why parity is not utopian. Would enjoy a comment from you, but I guess no need to mention that
You have the right idea my friend!
I agree with you all the way