> [P]lease bear in mind that this is not a prediction.<p>> The price we calculated here is one that we might see in the future if bitcoin continues its extraordinary growth path for all use cases.<p>Hilariously, the extraordinary growth part far exceeded the expectations of the author, but the number of use cases for BTC has (probably) decreased:<p>1. BTC not anonymous enough for illicit transactions now, especially when better currencies exist for this (eg Monero). But you may need to BTC to actually buy XMR, so maybe this still counts...
2. Its hard to justify buying things with an apparently deflationary asset which has significant fees associated with transactions: this is particularly true of microtransactions which are literally impossible to do on-chain now.
3. Remittances are plausible still, but again, the fees are now enough that its not nearly as attractive.<p>Only the author's 4th use case ("investment") seems applicable with BTC today. There are cryptocurrencies that do meet the use case requirements mentioned, albeit with limited point-of-sale coverage still, but BTC is definitely not one of them.