Predicted Bitcoin Value: Soaring from $500,000 to $1 Million by 2025 – Bitcoin Pundit Adam Back Speaks Out
*Hey Buddy! Let's dive into some crypto news, shall we?
- Bitcoin to $500k, Back says: Chill Pills, Pal!
- No Satoshinik, Back confesses again
Adam Back, CEO of Blockstream and the bloke behind HashCash (mentioned in Satoshi Nakamoto's Bitcoin whitepaper) gone all 'crazybull' on Bitcoin price predictions!
He reckons Bitcoin will hit six-digit figures in this very market cycle. In a soiree with the Milk Road podcast crew, Back speculated that even $100k BTC is bargain-o-rific, predicting a minimum of $500k per coin, and then, watch out, World - $1 million per coin!
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Bitcoin to $500k, Back says: Take a Load Off, Buddy!
Back thinks Bitcoin trading at $100k is stingy, mate! He expects it to soar even higher in this market cycle. The price prediction he passed to the podcast host is a cozy $500k minimum, and then, boom, here comes a million!
Why's he so optimistic? He analyzed previous Bitcoin halvings, reasoning that the percentage increase in BTC price has reduced significantly after these events, mostly due to the pandemic and the Federal Reserve's excessive monetary policy over recent years.
Sovereign Wealth Funds Investing in Bitcoin: Top Honcho on CNBC Gotta Go: Back on Being Satoshi Nakamoto
Back once again shot down the idea that he's Satoshi Nakamoto, comparing the mystery surrounding Bitcoin's 'founder's true identity to the super exciting whodunnit/beiodidwho mystery novels. He hinted that while the community might suspect someone like Back (who received the first email from Nakamoto and whose HashCash was mentioned in the whitepaper) is Satoshi, he, like all good mystery novels, insists he's not the main character or the culprit.
Back explained that Satoshi didn't work with anyone when crafting Bitcoin, not even Back. He theorized that Satoshi wrote the Bitcoin code, which he tested to ensure it worked, and only afterward drafted the whitepaper and sent it to Back.
- Adam Back maintains that a $100k Bitcoin price is not much, and he anticipates a significant surge beyond this mark in the current market cycle, potentially reaching $500k and even a million dollars per coin.
- Back's optimistic outlook is based on his analysis of past Bitcoin halvings, suggesting that the rate of price increase has reduced post-halving, with the pandemic and the Federal Reserve's monetary policy being major contributing factors.
- Back reiterates his denial of being Satoshi Nakamoto, comparing the search for Nakamoto's identity to mystery novels, implying that he is not the author or the central character of the Bitcoin story.
- Back revealed that Satoshi Nakamoto worked independently in creating Bitcoin, not collaborating with anyone, including Back. He believes that Nakamoto wrote the Bitcoin code, tested it, and only afterward composed the whitepaper and shared it with Back.
- In response to the growing interest of sovereign wealth funds in Bitcoin, Back may share his insights on this topic in future interviews, possibly on CNBC.
