Adam Back: Bitcoin to Reach USD 1 Million in 2028

Shenchao TechFlow reported on Nov. 12 that Blockstream CEO Adam Back recently said on a CNBC program that he is personally betting Bitcoin's price will reach USD 1 million in 2028.

Adam Back believes Bitcoin adoption is still in its early stages, with about 95% of potential adoption yet to occur. Large pools of institutional capital, such as pension funds and mutual funds, have not fully entered the Bitcoin market and are expected to become a key driver of future demand growth.

He further noted that as institutional investors continue to enter the market, Bitcoin's long-term price floor may gradually rise. However, the USD 1 million price target is his personal forecast and not a definitive market trend.

Source: Shenchao TechFlow