Critics assume Bitcoin’s price can’t keep rising, but against fiat it can, because fiat supply is unlimited.
If dollars continue to be valued, the Federal Reserve won’t stop printing; in fact, money supply will likely expand as debt and interest obligations grow.
Fiat will tend to lose value over time, and some country will always be willing to print to preserve its ability to mine Bitcoin.
If fiat is abandoned and Bitcoin becomes the reserve standard, 1 Bitcoin = 1 Bitcoin. On that standard, accumulation happens only by:
- mining it
- exchanging goods and services for it