#BTC Adam Back predicted the rise of Bitcoin to $1 million. The renowned cryptographer called the first cryptocurrency undervalued and stated that he expects an influx of institutional capital into it.

Adam Back is the co-founder and CEO of Blockstream, a British cryptographer and computer scientist widely known for the invention of Hashcash in 1997 — a proof-of-work system that underpins Bitcoin mining. He was also involved in the early development of the leading cryptocurrency. He was one of the first to be contacted by the anonymous creator of Bitcoin, known by the pseudonym Satoshi Nakamoto.

Many members of the community are convinced that Back is Nakamoto, pointing to his expertise in cryptographic sciences and developments preceding the emergence of Bitcoin as evidence. However, Back has repeatedly denied the theory that he is Satoshi.

Blockstream is a leading developer of technologies for scaling Bitcoin. Their products include fast and confidential transactions, issuance of digital assets, including stablecoins and tokenized real-world assets (RWA).