I think people are also buying Bitcoin if they are already rich and don’t want to get less rich.

Take the case where you made 2–3M and want to retire but don’t want to hand over 1M to the IRS or a divorcing wife.

Well just dump everything into BTC and exit the county, move to Thailand, cash out tax free and live like a king to the end of your days.

Can’t do that with Gold or any asset class in the world right now which makes it unique and valuable. For this reason it’s price is going into nuts.

No matter if BTC is worth $1000000 a coin or $0.01 a coin. The very fact I can use it to simply walk out of a country and not have it’s government or banks tell me I can’t do X… is the reason it’s valuable. My money is MY money, not the government’s money that I’m borrowing that they can force me to give half to my cheating wife or so they can tax me and spend it on missiles to blow up random middle eastern countries.

That’s why BTC is so expensive now. It is the only asset in the world capable of doing the above.