Nation states hoarding bitcoin will not actually discourage normal people from using it. It will only raise the price, enriching people who already hold it, encouraging them to spend, and at the same time raising the price high enough to eventually break the psychological impression that it’s too expensive to buy. When a whole bitcoin costs over 1,000,000, but yet people are still buying and using sats the price won’t really feel relevant anymore. Eventually people will figure out that it’s not a price, it’s a rate, and the only thing that’s too expensive is saving in dollars.
Nation states hoarding bitcoin will not actually discourage normal people from using it. It will only raise the price, enriching people who already hold it, encouraging them to spend, and at the same time raising the price high enough to eventually break the psychological impression that it’s too expensive to buy. When a whole bitcoin costs over 1,000,000, but yet people are still buying and using sats the price won’t really feel relevant anymore. Eventually people will figure out that it’s not a price, it’s a rate, and the only thing that’s too expensive is saving in dollars.