Changes in bitcoin’s ranking as a global base money is to be expected as the price changes. A major price jump will make bitcoin the world’s largest base money.
The below is a direct excerpt of
Yes, bitcoin may be very correlated to stocks and other assets over a short or medium time horizon, but, as you can see from the BTC/NASDAQ ration chart above shared by Tuur Demeester, bitcoin makes massive, orders of magnitude jumps in very short periods of time during massive rallies. And has continued the trend of repeating this up-and-to-the-right since the protocol was launched in 2009.
If the demand for an extremely scarce monetary bearer asset that can be self-custodied with relative ease and transferred and secured by a globally distributed network of nodes running open-source software increases, you can expect this trend to continue. When you look around at everything going on in the world, particularly with governments attempting to clamp down on liberties as they lose control of the monetary, food and energy systems, betting that the demand for bitcoin will not only increase, but increase significantly seems like a very low risk bet.