This research discusses the potential maximum price of Bitcoin. The adoption curve of Bitcoin is compared to that of the internet, and both are found to follow a Gompertz curve. The note also highlights the importance of selecting the appropriate diffusion model for forecasting market development. . The potential value of Bitcoin as a reserve asset is discussed, along with constraints and obstacles to its saturation price. The summary concludes that while the adoption rate suggests a future value for Bitcoin, the actual price trajectory remains unpredictable and subject to various practical limitations. (15 December 2020)
