Blockstream CEO Predicts $10 Million Bitcoin Price by 2032

Adam Back, the CEO of cryptocurrency company Blockstream, predicts the price of bitcoin could reach $10 million by 2032 if the technology and infrastructure of the Bitcoin layer-2 wallet is improved quickly.

The price of bitcoin could reach $10 million by 2032, according to the CEO of cryptocurrency company Blockstream, Adam Back, if the technology and infrastructure of the Bitcoin layer-2 wallet is improved.

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In a Twitter thread on February 12, the Bitcoin Core contributor explained to his 509,000 followers in what situation the bitcoin prediction could come true.

Blockstream CEO Predicts $10 Million Bitcoin Price by 2032
Blockstream CEO and Bitcoin Core contributor, Adam Back.

Back noted that bitcoin has doubled in price year-over-year on average since 2013 and explained that if this trend continues, bitcoin’s price will reach $10 million, along with a $200 trillion capitalization, in about nine years.

However, Back said that for these numbers to materialize, improvements in bitcoin’s layer-2 technologies and wallet infrastructure must be made quickly to allow time for these innovations to develop.

Responding to a comment, Back said he believes bitcoin adoption has not yet reached the bottom of the S-curve, as only 1-2% of the global population has utilized bitcoin. He predicts that more investors will begin to “stack” bitcoin in “cold” storage wallets:

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“Given the volatility, I think bitcoin can soar wildly and by reaching one of those $100-300 trillion capitalization thresholds, correct and then regain a firmer adoption over time. I suspect that people with average entry points, relative to the then-current price, will not have much incentive to sell on volume.”

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