👀 Bitcoin pioneer and Blockstream CEO Adam Back maintains a bullish outlook on Bitcoin's price trajectory, asserting that the current cycle is "10x bigger" than previous ones and that surpassing the $100,000 mark is inevitable.
🔍 Key Insights from Adam Back:
$100K is Just the Beginning: Back believes that $100,000 is an overdue milestone for Bitcoin, suggesting that the cryptocurrency's fundamentals have outpaced its price. He anticipates that Bitcoin will not only reach but significantly exceed this level in the current cycle.
Institutional Demand Surge: The introduction of spot Bitcoin ETFs and increased participation from institutional investors are contributing to a demand that outpaces the daily mining supply, exerting upward pressure on the price.
Long-Term Vision: Back envisions Bitcoin potentially reaching between $500,000 and $1 million by the end of 2025, driven by factors such as institutional adoption, macroeconomic trends, and Bitcoin's fixed supply.
As of now, Bitcoin is trading near $99,096, reflecting a 2.68% increase, with intraday highs reaching $99,835.
Back's projections highlight the growing institutional interest and the unique supply-demand dynamics of Bitcoin, suggesting a potentially significant price appreciation in the near future.
🔍Cryptocurrency investments carry risks. Therefore, this is not financial advice (No BSH recommendation). Hence please do your own research (DYOR) before making investment decisions.