Cypherpunk Adam Back: Bitcoin Market Cap “Should Be Around $200 Trillion”

British cypherpunk and renowned cryptographer Adam Back has made waves with his bold claim that Bitcoin’s market cap “should be around $200 trillion.” He believes relentless global money printing could eventually drive capital into scarce assets like Bitcoin, pushing it to these astronomical heights.

This projection far exceeds today’s financial benchmarks:

The S&P 500 market cap is about $40 trillion — representing 40% of the global stock market.

Gold, the leading safe-haven asset, stands at around $13 trillion.

Combined global GDP is approximately $105 trillion.

The total value of global real estate is roughly $300 trillion.

Back, who was cited in Satoshi Nakamoto’s original Bitcoin whitepaper and received an email from Satoshi in August 2008, only started buying Bitcoin in 2013. Since then, he has become a vocal “permabull” — someone permanently bullish on Bitcoin.

His view echoes that of VC Tim Draper, who has said Bitcoin could reach “infinity” if the U.S. dollar collapses due to inflation or loss of confidence.

Though $200 trillion may sound far-fetched today, Back insists it’s feasible in a world drowning in fiat liquidity.