Bitcoin price is too low, this cycle should hit $ 500k $ 1m: Adam Back

Bitcoin’s price Is strange at the moment and could rise to $ 500,000 or even as high as $ 1 million per coin this four -year cycle, Adam Back said.

In an interview with DecryptThe famous CEO of the computer scientist and Blocksteam said that, given all the institutional money that flows into space, the price of the Largest and oldest cryptocurrency Should be higher.

Bitcoin was recently traded for $ 103,300 per coin – in the past day no more than 7% more than 7%, last week, according to To Crypto Markets Data Provider Coingecko. It is only 5% from its all-time high nearly $ 109,000, despite a late winter, early spring tour.

Back, who holds a doctorate in computer science in distributed systems of Exeter University and has long been involved in cryptography, told, told Decrypt: “I think this cycle can be quite high, but the cycle extends for a few years, right? So I thought $ 500,000 to $ 1 million, because there is a lot going on.”

He added: “There seems to be no clear logical reason for me why we only have $ 100,000. That is not very high considering all the things different than a few years ago.”

Back noted the approval of Spot Bitcoin ETFs In the US, which have generated more than $ 41 billion on net intake, and the crypto-friendly policy of US President Trump.

The top regulator of Wall Street, the SEC, last year approved Bitcoin ETFs – Fund managed by people like BlackRock and Fidelity – who easily give investors access to BTC with shares that can be purchased through Brokerage accounts.

The approval of the funds has led to a stream of new money to the space of investors who have previously been locked up from the Crypto Investing Sphere.

Bitcoin’s Last record– Hit in January – isn’t that high Compared to previous cycles When you look at the movement of the mint after the historic stop events. BTC Has the tendency to move in four -year -old cycles.

But back said he thought that brokers and individual investors tend to buy things that have already risen, so more money will flow into space as Bitcoin climbs, creating the price momentum.

“I think if you get a new of all time, it can quickly get a lot higher,” he said.

Back is the co-founder and CEO of Blocksteam, a business building Bitcoin infrastructure, such as crypto portfolios.

Back had an e -mail exchange with the mysterious maker of Bitcoin – or makers–Satoshi Nakamoto In 2008, the year that the original paper was published with the blockchain network was published. The mining process of Bitcoin is derived from Hashcash, a proof-of-work system that is invented.

Edited by James Rubin