But, if you have 1 trillion USD of value (insert the actual value that is meaningful to you) that you want to transfer around the world, you certainly want to do it in the most secure way possible. Especially without having to get permission from your local bureaucrat first. Bitcoin certainly makes that possible. The problem being that buying up 1 trillion USD worth of bitcoin is going to obviously move the market and anyone holding enough to do that OTC, makes it pretty centralized.
I do feel like there is a middle ground here and that is to look at it as more of a store of value. Just buy and hold it in the same way that people hold onto gold. If you look at the 100yr charts for gold, they are all over the place. 2008 was one of the largest dips that set things back at least 30 years! Now things have bounced back... but it is all on speculation and really has nothing to do with some sort of 'intrinsic value' of gold.
Further, btc works precisely as well as a payment platform whether the price is $1 or $1,000,000. This makes the discussion of the price of btc suspicious to me.
Sounds good in theory until one is faced with a fraudulent vendor, a suddenly empty wallet or a transfer error due to some "fat fingers" mistake. Then people somehow get nostalgic for "how much of a shitshow the payments industry is" and how quickly it acts on chargebacks, scams or unauthorized spending.
This plus bitcoin’s inability to handle transactions in a timely way makes it kind of useless for this.
From the other commenter I think bitcoin as a store of value could be possible, but it’d have to stabilize in the end which remains to be seen. I’m also not sure scarcity itself guarantees value, but I probably just don’t know enough about this.