$BTC

The cypherpunk and CEO of Blockstream, Adam Back, predicted that Strategy and other institutions that have adopted a corporate treasury plan of Bitcoin will drive the market capitalization of BTC to 200 trillion dollars.

"Strategy and other treasury companies are an arbitration of the dislocation between the future of Bitcoin and today's fiat world," Back wrote in a post on X on April 26.

Critics of the company warn that the debt-based approach to acquiring BTC could financially sink Strategy if a prolonged bearish market for BTC comes into effect and also warn of greater systemic risks for BTC due to a high concentration of the digital currency in the hands of a single entity.

However, Bitcoin advocate and author Saifedean Ammous recently stated that Strategy's concentration of BTC does not threaten the protocol.

Ammous argued that institutions like BlackRock and Strategy, which own high concentrations of BTC, could not design a hard fork that increases Bitcoin's maximum supply, as it would massively devalue their holdings, which, at the end of the day, belong to shareholders with the power to divest.