Your thinking is flawed.
Essentially you're saying
"BTC hits 100K when big money joins in on the speculation"
You're also assuming big money isn't already in the game either through subsidiaries or under pseudo entities.
Big money doesn't even play the share market like that. They generate new wealth by investments into development that then create new economies and industries. Which then generate wealth over 20, 30, 99 year periods.
Speculation is a fools game.
Big money sees money as a worker.
And just like hiring a worker you don't hire someone on how much bullshit they talked in interview. Merit, ability, skills, qualifications are the criteria.
That's why BTC has a long road.
It still doesn't have real use.
What that will be no one truly knows.
That's why it's wrong to compare it to gold.
Gold has real world use in technology which guarantees that humans won't suddenly stop seeing it as valuable.
Do you know how much of the global demand for gold is for technology?
No I don't know how much in used in technology. That's something that requires immense resources and special insider knowledge in order to provide a factual answer.
I or anyone else, doesn't need such knowledge for the point to be valid.
It's obviously used in high end technology and with the global space race now a truly global competition. Gold is an asset that will continue to be utilized and hold value.
It was a comparison though.
Because if we are talking about precious metals. Copper is much more valuable and utilized.
That was exactly my point. Only a small fraction of the demand is related to industrial use, meaning the majority of the price is related to speculation and a believe that it will continue to preserve value, which is not all that different than bitcoin's.
But you can't counter a point with the same point. WTF is wrong with your mind to think that makes sense.
"Oh yeah I agree with you that gold has real world use but it's not much so it doesn't have real use"
The ACTUAL message in my point was GOLD is getting used in technologies.
BTC is still exclusively speculative.
The real world use is not there. And no BTC ATMs aren't really a real world use, and some random car dealer/realtor saying "you can pay with BTC" is not of any significance.
Furthermore, gold HAS had real world use from essentially beginning of civilization.
Use in technology is a modern world thing so I used that example because it's most relevant.
One thing I find funny and sad.
You all have a very CULT MIND to this thing.
You have to though right. Or else you must accept that you're selling yourself very short. A normal person would consider it insane to put all that effort for a few cents.
What was gold used for before it was used in high end electronics?
And no you seemed to have missed my point. My point was the vast majority of gold's market price is based upon speculation and the belief it will hold value over time.
Gold is a hedge in wealth and asset management actually. So it's actually the tangible asset relied on during times of uncertainty.
Now why is it a hedge?
Ok if we know history that answer is simple.
I can't believe you would seriously ask "what?"
I will educate you though: It's use throughout history as an art medium. Use of it by high society. Royalty. Jewellery for masses. Archeology the academic field in constant discovery of how humans have always seen it as valuable. This is why it continues to be a safe asset. Humans value gold immensely.
Now philosophically one can argue: "That's all whithin the human system - gold is no different to LED in the reality of physics."
It's my ultimate view actually, because I don't adhere to materialism as value, yet I see it as THE SYSTEM. Assessing why it's the system though, we realize, that we are ALWAYS holding the human system above physics because the entire human system of civility is really all just ideas that we collectively agree upon.
So if ever gold becomes meaningless, we'll likely have much greater issues than just "what is gold used for". The greater issue would be that society has likely collapsed and "survival" the only thought in our minds and so the only "asset" would be food.
Which, evidently, IS the system in places of the world still. For instance in Africa, in some tribes. A man's cow(s) is their asset.
In Western society this is also evident. That's why Monsanto has the world's largest seed cache stored deep in a facility under snow. Because if 'the system' does collapse. Those seeds have immense value.