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$BTC Bitcoin is still living the trailer” – Adam Back explained that scenario

According to Blockstream CEO Adam Back, Bitcoin could reach between $500,000 and $1 million in this cycle with increasing institutional interest. Back argues that the current price is well below its potential.
$BTC
Adam Back, CEO of cryptocurrency-focused software and security firm Blockstream, stated that Bitcoin's current price is quite low compared to its potential. According to Back, the rapid influx of institutional capital could push Bitcoin's price to the $500,000 to $1 million range in the coming years.

“The current level of $100,000 is quite low considering the developments taking place,” said Back, emphasizing that the approval of spot Bitcoin ETFs is a significant turning point.

Back noted that Bitcoin has historically moved in four-year cycles and that this cycle has not yet fully started in terms of price compared to previous halving periods. “When a new record is set, the price can rise very quickly,” Back emphasized that market momentum will be fueled by investor psychology.

Adam Back is also one of the few individuals who directly communicated with Bitcoin’s creator Satoshi Nakamoto via email in 2008. Additionally, Back is the developer of the proof-of-work system called “Hashcash,” which forms the foundation of Bitcoin.$BTC