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Adam Back Predicts Bitcoin Will Hit $500k to $1M, Denies Being Satoshi Nakamoto

BlockStream CEO Adam Back shares ultra-bullish Bitcoin price predictions, forecasting BTC to reach $500k to $1M. He also addresses Satoshi Nakamoto speculation.
Published on 2025-04-24

Bitcoin Price Prediction: $500k to $1M

Adam Back, CEO of BlockStream and creator of HashCash, has made a highly optimistic Bitcoin price prediction. He believes Bitcoin will reach a minimum of $500,000 and could potentially soar to $1,000,000 during the current market cycle. Back shared this outlook during his appearance on the Milk Road podcast, where he emphasized that even $100,000 is undervalued for Bitcoin.

Back attributes the lower percentage increases in Bitcoin's price after the last few halvings to the 2020 pandemic and excessive money printing by the Federal Reserve. He expects Bitcoin's price to skyrocket this year or within this market cycle.

Addressing Satoshi Nakamoto Speculation

Adam Back once again denied being Satoshi Nakamoto, Bitcoin's anonymous creator. He described the community's curiosity about Nakamoto's identity as a "fascinating topic," acknowledging speculation that often links him to Nakamoto due to his early involvement with Bitcoin and the mention of HashCash in the Bitcoin whitepaper.

Back clarified that Satoshi Nakamoto worked independently, even when sharing the first Bitcoin whitepaper draft with him in August 2008. He believes Nakamoto wrote the Bitcoin code before drafting the whitepaper to validate its functionality.

This article highlights Back's bullish outlook on Bitcoin and his insights into the mystery surrounding Satoshi Nakamoto.

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