Adam Back calls the beginning of Bitcoin’s institutional adoption era

Blockstream CEO Adam Back believes Bitcoin institutional adoption is already here. He argued that cryptocurrency adoption takes time to mature because digital assets develop product playbooks and training. Back also revealed that stablecoins have provided a better banking experience in wire transfers and banking. He noted that stablecoins have enabled 24/7 banking and wire transfers through the weekends. Blockstream’s executive also argued that banks have catching up to do in terms of user experience. Back says institutions are racing to offer Bitcoin products Adam Back , the only individual personally cited in Satoshi Nakamoto’s Bitcoin Whitepaper, said Nakamoto first contacted him in August 2008. He also revealed that Hal Finney tested Bitcoin early, where he wrote some explanations and even speculated that BTC could reach a $100-$200 trillion market cap, hinting at $10M per coin. According to him, the ambitious vision of BTC prompted deeper interest because earlier systems had failed due to centralization or unverifiable issuance, but Bitcoin’s decentralized model promised a better path. Back noted that institutions are racing to offer Bitcoin products, including BTC offerings, derivatives, structured products, and ETFs. Blockstream’s CEO argued that regulatory risk has been less severe than anticipated, with Trump’s administration improving Bitcoin’s institutional adoption environment. He also believes that governments like the U.S. are considering Bitcoin for strategic reserves, which has made it easier for institutions to adopt digital assets. “If Bitcoin reaches its full potential, it will be used by everybody, including what some of the early adopters would consider, you know, the establishment that they were hoping to have self-sovereignty to protect themselves from.” -Adam Back, CEO of Blockstream. Adam Back believes Bitcoin will inevitably be financialized. He argued that companies like Strategy multiply their Bitcoin exposure through enterprise value, which he said is sustainable while BTC adoption grows. Back also noted that companies like Strategy could support BTC’s upward price momentum because they acquire Bitcoin directly and offer indirect exposure through instruments such as convertible bonds. Back also highlighted the growing institutional interest in Bitcoin, including investments by sovereign wealth funds. He cited Abu Dhabi’s $408.5 million stake in BlackRock’s Bitcoin ETF. Adam Back sees Bitcoin hitting $500K to $1M in the current market cycle Adam Back says “$100,000 is way too cheap” and that Bitcoin gets between “$500,000 and $1 Million during this cycle.” 🚀 pic.twitter.com/hcq9HeooCk — Bold Bitcoin (@BoldBitcoin) May 14, 2025 Adam Back expressed his surprise at BTC’s current price level, which is hovering around $108,600 at the time of publication, given the surge in institutional interest and major developments in the crypto industry. He believes that the digital currency could surge to between $500,000 and $1 million per coin during the current market cycle. Despite being slightly below its all-time high of nearly $112,000, the crypto mogul argued the price does not yet reflect the full scope of bullish momentum building behind the asset. He noted that the four-year cycle in the asset’s price action tends to stretch over time, and we’re still early in the current one. Adam Back argued that key catalysts include the U.S. approval of spot Bitcoin exchange-traded funds (ETFs), which have already drawn in more than $44 billion in net inflows. According to him, ETFs offered by financial giants like BlackRock and Fidelity have opened the door to a new wave of investors, particularly those previously hesitant to hold virtual currencies directly. Blockstream’s CEO mentioned that much of the investor capital tends to arrive after prices begin to rise. He also argued that the market could get a new all-time high much quicker, emphasizing that momentum and retail psychology often fuel further gains. Michael Saylor, founder of Strategy, noted that BTC’s recent price stagnation below the $150K mark can be attributed to short-term holders exiting the market. He explained on May 9 that a market rotation is underway, with non-long-term holders cashing out and a new wave of committed investors entering. Saylor acknowledged that a lot of Bitcoin remained in the hands of governments, lawyers, and bankruptcy trustees. He believes those parties don’t have a 10-year mindset and are seizing the rally as an opportunity to liquidate. The crypto mogul also revealed that Bitcoin is now finding its way into the hands of institutions and investors with a longer time horizon, particularly through spot BTC ETFs and corporate treasury strategies. KEY Difference Wire helps crypto brands break through and dominate headlines fast

Source: Cryptopolitan