- Back offered a “conservative” estimate, saying that BTC’s market cap would hit $1 trillion in 2 years, “probably sooner”
- Back is the creator of Hashcash, which is used in Bitcoin, and currently runs Blockstream, which is building infrastructure for the cryptocurrency industry
- He was responding to a prediction by Ark Investment Analyst Yassine Elmandjra, who said that BTC would add trillions in the next 5 to 10 years
- Bitcoin’s current market cap is $198.5 billion; meaning that the asset would have to grow 5x in 24 months to reach a $1 trillion market cap
- Being touted as digital gold, Bitcoin’s market cap has often been compared to gold, which has a market cap of $9 trillion
- If Bitcoin were to that market cap, it would put 1 BTC at $400,000
$50K Per BTC, Says Adam Back, Creator of Hashcash System Used in Bitcoin
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