Yes, it does. Bitcoin's market cap is ~350b, which is about the same as JPM's market cap, which is exactly what the purported utility aims to replace. Doesn't seem far off to me. Bitcoin aims to make paper money obsolete, which aims to make banks obsolete. Bitcoin is therefore undervalued, assuming it is a valid replacement. $100k per BTC in 5 years is not unreasonable. 5 years ago, if someone said $20k per BTC in 5 years, you would call them crazy.
