$1M Bitcoin Possible. Adam Back Explains Why

In a recent social media post, Adam Back has opined that even a 2% allocation recommendation by BlackRock could push the Bitcoin price to the much-coveted $1 million mark.

This implies that some of the largest asset managers actually stick to that allocation percentage.

This comes in response to a recent statement made by Strategy co-founder Michael Saylor, who predicted that Bitcoin would be at $1 million per coin once Wall Street gets 10% exposure to the leading cryptocurrency.

Saylor, whose company is known as the largest corporate holder of the leading cryptocurrency, recently predicted that the price of the leading cryptocurrency could reach $13 million by 2045. Such a target will be achievable in the case of growing institutional demand.

Back, who was famously cited in the Bitcoin whitepaper, previously stated that the price of the leading cryptocurrency could potentially reach $1 million during this cycle.

Recently, the British cyberpunk urged Musk to allocate a higher percentage of his net worth to Bitcoin.