CalebWetherell Maybe, but I think it has more to do with bitcoin being taken more seriously by institutions and wealthy people.
There are a lot of advantages that bitcoin has over gold that attracts wealthy people. You don't need a physical device to hold your bitcoin, while gold has to be stored and protected 24/7.
You can memorize a 12/24 word list and restore your bitcoin balance in a few minutes even without your original wallet.
If the government demands you hand over your bitcoin, you can just say you lost your wallet and forgot the passkey, and there's literally nothing they can do about it. They can't prove that you didn't lose your wallet. Other assets like stocks and cash are held by institutions, and they can easily hand over your assets to the government if the latter demands them.
Scammers aside, bitcoin is really a very safe asset, and I have no doubts it'll be worth 500k-1 million eventually.
