Blockstream CEO Adam Back suggested that Bitcoin (BTC) could reach $700 thousand in the next 1 or 2 years.
Adam Back, who stands out from time to time with his statements about Bitcoin, 4 December dated social media with the post He once again made a remarkable prediction.
upcoming 1 or 2 years the value Bitcoin deserves during the period for 700 thousand dollars Back stated that it will reach people’s gold sell and He offered a theory that he would start buying Bitcoin.
An experienced name who argues that Bitcoin will replace real gold sooner or later. The cycle where everything will turn upside down This is what we’re in halving cycle He emphasized that it was. Adam Back added that for this theory to come true, the market value of gold should start shifting to Bitcoin:
Digital gold Bitcoin will sooner or later definitely turn things around and replace physical gold. This will probably happen during the current halving cycle. So in a year or two. I think Bitcoin needs to be $700k right now, but for that to happen some investors need to sell gold and buy Bitcoin and witness a transition in market values.
Currently gold $13.8 trillion The market value of Bitcoin is $814 billion It has market value. It is thought that a possible transition from gold to Bitcoin will change all balances.
According to CoinGecko data, in the last 24 hours 5.7% Bitcoin, which is on the rise, at the time of writing 41,839 It is traded in dollars.