The bearing might take it, but the chain is another matter.
None of the bike chains I see are within industrial etc. guidelines for speed - all turn much faster.
Using known-safe figures (2500 f/m engine speed for sustained cruising) a 24 tooth #428 (1/2" pitch) engine sprocket @3,780 RPM (H-D 74 engine) is 3,791 f/m (43 mph) based on the pitch diameter - even this is off the scale according to the guides, but H-D has used this since 1936 with the same sprocket and chain (no recall, no failure, no odd service needed), so I assume it works.
What happens if you double that? Nothing good; the centrifugal force moves the rollers up from the root and they drive higher up on the tooth than intended, and also increase the pitch so the number of teeth properly engaged is down. However, again, for racing this seems to work (8K RPM doesn't break the chain frequently).
If the sprocket shown is 36 #50 (530), yes? 1 turn is 1.877 feet of chain, so its RPM × 1.877 = f/m, multiple by .0113636 to get mph.