" because millions of people view Bitcoin as a good place to park their money over fiat currency."
This would be very unwise.
BTC is highly volatile, and could go to 0 tomorrow.
It could could be made useless by the stroke of the pen someone in any big government.
Nobody keeps most of their assets in cash.
Stocks, Bonds, real estate, a basket of commodities, a basket of currencies - or even a decent long-term-interest savings account ... are all considerably better than BTC as stores of value if you don't like fiat.
When considering the 'risk premium' - BTC is a speculative instrument only. Not a currency, and definitely not a store of value.
This would be very unwise.
BTC is highly volatile, and could go to 0 tomorrow.
It could could be made useless by the stroke of the pen someone in any big government.
Nobody keeps most of their assets in cash.
Stocks, Bonds, real estate, a basket of commodities, a basket of currencies - or even a decent long-term-interest savings account ... are all considerably better than BTC as stores of value if you don't like fiat.
When considering the 'risk premium' - BTC is a speculative instrument only. Not a currency, and definitely not a store of value.