Adam Back: Bitcoin will reach $1 million in 2028

on November 12, Blockstream CEO Adam Back recently stated in a CNBC program that he personally bets Bitcoin's price will reach $1 million by 2028.

Adam Back believes that Bitcoin adoption remains in its early stages, with approximately 95% of potential adoption yet to occur. Massive institutional capital such as pension funds and mutual funds has not yet fully entered the Bitcoin market and is expected to become a key force driving future demand growth.

He further stated that as institutional investors continue to enter the market, Bitcoin's long-term price floor may gradually rise. However, the $1 million price target is his personal forecast and does not represent a guaranteed market trajectory.