Blockstream Co-Founder Adam Back Bets Bitcoin Will Reach $1 Million by 2028

Blockstream co-founder Adam Back said he is personally betting Bitcoin (BTC) will reach $1 million by 2028, giving a specific date to a target he previously placed within the current four-year cycle.

Back estimates that about 95% of Bitcoin’s potential adoption remains ahead. He pointed to pension funds and mutual funds as large pools of capital that have not yet made large-scale Bitcoin allocations. Back expects rising institutional participation to push Bitcoin’s long-term price floor higher.

The 2028 call adds a specific timetable to the $1 million level. Back’s earlier longer-term Bitcoin outlook included $500,000 and $1 million as potential milestones during the current four-year cycle, followed by a $1.5 million target by 2030.