Bitcoin at $1 million is possible in this cycle, according to Adam Back

  • Donald Trump has promised to create a strategic national reserve in bitcoin.

  • The price of bitcoin would multiply by at least 11, if Back’s prediction comes true.

“If the US bitcoin strategic reserve comes to fruition, prepare for a 7-figure bitcoin this cycle,” Adam Back, co-founder and CEO of BlockStream, wrote on his X account.

For the bitcoiner, “the market is skeptical about a significant follow-up for now, so it is not included at all [la creación de esta reserva] in the price.

Back refers to Donald Trump’s promise, opportunely reported by CriptoNoticias create a state reserve of bitcoin.

This reserve could be constituted either by seized bitcoin (BTC) that is already in the possession of the US government, or by BTC that are specifically acquired.

In line with this proposal, the senator Cynthia Lummis has proposed that the United States sell gold to buy 1 million BTC.

It is worth clarifying that there is still a lot of speculation and assumptions about what this strategic reserve will be like, about which there are no further details. And Trump must still assume the presidency in order to fulfill his promise.

Still, that’s not enough to dampen the enthusiasm of bitcoiners like Adam Back.

The Blockstream CEO, in response to another X user, explains that, If the United States builds its strategic national reserve in bitcoin, the FOMO (fear of being left out) will take over the world:

«There is no good way to buy 1 million BTC other than doing it very, very discreetly. Still, once it leaks, everyone goes into FOMO and price teleportation occurs.”

Adam Back, CEO of Blockstream.

If Back’s prediction comes true, BTC would appreciate at least 11 times from the current point. At the time of publishing this note, each BTC is trading for $89,900.


Clarification: This article is written for informational purposes. It does not constitute an investment recommendation or financial advice. Each investor is responsible for conducting his or her own research.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *