353: BLOCKSTREAM CEO ADAM BACK PREDICTS $50K BITCOIN PRICE BY 2022 OR SOONER!! $300K BTC WITHIN 5 YEARS!!

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English - October 07, 2020 15:24 - 20 minutes - 9.78 MB - ★★★★ - 537 ratings
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Bitcoin (BTC) hitting a $1 trillion market cap by 2025 is “conservative,” and those levels should hit in less than two years.

That was according to Blockstream CEO Adam Back, who delivered a fresh bullish Bitcoin price outlook on Monday.

Back was responding to a report by Yassine Elmandjra, a crypto-asset analyst at investment advisor Ark, who in September forecast a BTC market cap of $1 trillion to $5 trillion by 2030 at the latest.

Ark is well known for its enthusiastic price forecasts for Tesla stock, which saw an almost unbelievable rise in 2020.

“Conservative. I'd say bitcoin likely sees $1 trillion market cap within 2 years, probably sooner. $1 trillion is about BTC $50k,” he said.

As of October, Bitcoin’s market cap is just over $198 billion. For Back’s prognosis to come true, the market would need to see a 400% increase by 2022.