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RE: BTC Hash Rate hits another all time high (and other cool things)
For it to reach that number, probably needs to be more, though not impossible.
The entire gold market is worth roughly $8 trillion currently, which is mostly a store of value market. At $1 million, bitcoin would be worth $21 trillion (when all coins are fully mined), quite a bit higher than the gold store of value market.
Though, perhaps money from other stores of value, like real estate and collectibles would also venture in...
I wouldn't say it's impossible that bitcoin achieve that valuation while mostly "only" being a store of value, but I agree that it may be difficult.