I think that if the total supply was 10 000 times larger(1.21 trillion coins), that would put the value of bitcoin at around $2 (given todays marketcap). From what I could find on a not so thorough internet search, there are about 1.55 trillion dollars in circulation. By this comparison, Bitcoin is worth just slightly more than a dollar given equal supply. If we also consider in the fact that not all bitcoin has yet been mined, and we also consider that a lot of it is lost, Bitcoin still has some more room to grow. I guess from now on, it will depend on whether people trust Bitcoin more than the dollar.
you are absolutely right