Bitcoin is too risky/volatile to be used as a safe store of value, unless you have the luck to purchase at the very start of each bubble and not plan to cash out in one year minimum, if ever.
No way anyone is gonna spend 1,000,000$ in bitcoins as a store of value for example, if at the next moment all the bears are going to dump their coins for the only purpose of repurchase cheaper, making the inversor lossing 15% of his inversion.
Plenty of people have $1M+ in Bitcoins. Storage or investment is up for debate.
Speaking of 15% loses, gold is down 17% YTD. If you stored $1M in Bitcoin Jan 1st 2013, well done it's now worth $10M. Crash to $25? Still worth $2M. Your $1M in gold is now worth 830k. While clearly there is less risk in gold, there's risk in everything. It's certainly not crazy to think of Bitcoin as a way to store value.
Like I said in my post, it will take time for it to become a great storage option. But I stand by my point that it certainly
can become an amazing container for value.
