Summary
- Blockstream CEO Adam Back laid out a bullish outlook for Bitcoin.
- He said Bitcoin could rise to between $500,000 and $1 million on retail investor interest and demand for spot exchange-traded funds (ETFs) alone.
- Back said Bitcoin will reach $1 million before 2028, when the halving cycle ends, and that Bitcoin's market capitalization will eventually catch up with gold's market capitalization.
Forecast Trend Report by Period
Adam Back, chief executive officer of Blockstream, laid out a bullish outlook for Bitcoin.
Wu Blockchain reported on June 23 that Back sees enough upside momentum in Bitcoin from existing retail investor interest and demand for spot exchange-traded funds alone, even without large institutional inflows. He said the cryptocurrency could rise to between $500,000 and $1 million.
Back also said he expects Bitcoin to hit $1 million before 2028, when the halving cycle ends. Over the long term, he expects Bitcoin's market capitalization to catch up with gold's.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
