That only puts an upper limit on the price of a bitcoin. The lower limit is set by what they are useful for, and how much more useful than the 500 or so other cryptocurrencies: transactions and contracts with security and anonymity properties that ordinary money does not provide.
That only puts an upper limit on the price of a bitcoin. The lower limit is set by what they are useful for, and how much more useful than the 500 or so other cryptocurrencies: transactions and contracts with security and anonymity properties that ordinary money does not provide.
Same as for e.g. gold (at least for those crypto-currencies that use proof-of-work).