I have been hearing the same story since 2021 the supply deficit hasn't corelated to the price at all... Silver has been a terrible investment take a look at this chart comparing S&P500 to Silver long term since end of World War 2:

I could make a case for Silver doubling to about $108 on that fact that it historically trails Gold top and on the current strength and momentum, but that is about it and looking at the history of Silver bubbles I am not willing to hold the bag on that: