{"id":24018,"date":"2025-05-15T12:20:43","date_gmt":"2025-05-15T09:20:43","guid":{"rendered":"https:\/\/forklog.com\/en\/adam-back-predicts-bitcoin-surge-to-1-million-calls-it-undervalued\/"},"modified":"2025-05-15T12:20:43","modified_gmt":"2025-05-15T09:20:43","slug":"adam-back-predicts-bitcoin-surge-to-1-million-calls-it-undervalued","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/adam-back-predicts-bitcoin-surge-to-1-million-calls-it-undervalued\/","title":{"rendered":"Adam Back Predicts Bitcoin Surge to $1 Million, Calls It Undervalued"},"content":{"rendered":"

The price of digital gold is “unjustifiably low” and could reach between $500,000 and $1 million in the current four-year market cycle, according to Blockstream co-founder and cypherpunk Adam Back in an interview with Decrypt<\/a>.<\/p>\n

He believes that the influx of institutional money into the industry should have pushed the price of Bitcoin significantly higher than current levels.<\/p>\n

The cryptographer opines that the leading cryptocurrency is undervalued, despite the approval of spot exchange-traded funds in the US, which have brought in over $41 billion<\/a> in net inflows, as well as the crypto-friendly policies of former US President Donald Trump.<\/p>\n

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“To me, there is no obvious logical reason why we are only at $100,000. It’s not very high, considering all the changes compared to a couple of years ago,” Back added.<\/em><\/p>\n<\/blockquote>\n

The expert emphasized that brokers and retail investors tend to buy assets that have already shown growth. This strengthens the price momentum: as Bitcoin rises, interest in it increases, leading to an influx of new capital.<\/p>\n

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“I think if we reach a new all-time high, the price could quickly become much higher,” he concluded.<\/em><\/p>\n<\/blockquote>\n

At the time of writing, digital gold trades<\/a> at $102,227 (-1.1% over the day), according to CoinGecko. Over the month, the asset’s price has risen by 19.1%.<\/p>\n

Back in April, Back stated<\/a> that the growth of Bitcoin reserves on the balance sheets of public companies contributes to a sustainable process of “hyperbitcoinization.” This could increase the market capitalization of the leading cryptocurrency to $200 trillion.<\/p>\n","protected":false},"excerpt":{"rendered":"

The price of digital gold is “unjustifiably low” and could reach between $500,000 and $1 million in the current four-year market cycle, according to Blockstream co-founder and cypherpunk Adam Back in an interview with Decrypt. He believes that the influx of institutional money into the industry should have pushed the price of Bitcoin significantly higher […]<\/p>\n","protected":false},"author":1,"featured_media":24017,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[689,480,1146],"class_list":["post-24018","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-adam-back","tag-bitcoin-price","tag-cryptocurrency-market-forecasts"],"aioseo_notices":[],"amp_enabled":true,"views":"59","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24018","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=24018"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24018\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/24017"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=24018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=24018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=24018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}