This OG Bitcoin Developer Claims BTC Market Cap Could Reach $200 Trillion in 9 Years

Blockstream CEO Adam Back took to Twitter to claim that Bitcoin could hit a $200 trillion market cap in around nine years.

The British cryptographer based his findings on the BTC movement over the last decade. He explained that Bitcoin went up 2.036x per year or 1,200x in a decade. This brings his market cap estimate of $200 trillion for Bitcoin by the end of two halvings.

Unsure About Adoption, but Capitalization Could Spiral

Back stated, “I’m not sure about the adoption slowing, nor the volatility reducing; there are other factors. The new cycle people who learn to hodl/stack, who over time make it their mission to buy and cold store a much #bitcoin as possible, even resorting to leverage (volatility creator).”

The cryptographer is of the view that adoption may create bursts of hyperbitcoinization. He explained that rapid viral adoption could destroy a weak currency in a hyperinflationary frenzy. He maintains that if the public witnesses that a fiat currency is dissolving, they could become pragmatists and quickly react to defend their savings.

Next Bitcoin Halving in One Year

Back noted, “So I think things will get ‘interesting’ over the next two halvings. And fast. We don’t have much time to scale tech. We need somewhere for the next billion users to own their own UTXO, their own keys, with censorship-resistant cold storage, without weakening main-chain security.”

NiceHash Countdown to Halving

The next BTC halving is expected to occur on Apr 14, 2024. At the time of writing, Bitcoin is hovering in the 24-hour range of $21,650 – $22,100. However, in the last year, BTC’s price has slashed by around 50% amid the ongoing crypto winter. While its gains remain muted in the previous day, the past week has lost over 5%.

BTC/USD Chart BeInCrypto

In this price range, 63% of BTC holders are in the money, per analysis by InToTheBlock. Only 3% of holders are breaking even in this price range, while 34% have lost money. Notably, the analysis confirms that 11% of all BTC is accumulated with whales.


That said, Back puts out the idea that Bitcoin-structured products, mortgages with real estate backing but interest guaranteed by BTC, along with other products, foster growth.

Meanwhile, recent developments in technical indicators may herald the beginning of a long-term bull market for Bitcoin, according to BeInCrypto research.


BeInCrypto has reached out to company or individual involved in the story to get an official statement about the recent developments, but it has yet to hear back.

Bookmark (0)
ClosePlease loginn

Related Posts

Bitcoin: The Best Performing Asset Class in Q1 2023

Bitcoin set for its best trading quarter in nearly 2-years.
The top cryptocurrency vastly outpaces stocks performance.
BTC is well placed for more gains in Q2 2023.

Bookmark (0)
ClosePlease loginn

USDC Supply Shrinks by $10 Billion in March, But Hits 6-Month High on Smart Contracts

USDC supply declined by $10 billion in March following its exposure to the US banking crisis.
However, the stablecoin use on smart contracts reached a six-month high of 42.08%.
Tether USDT is now the dominant stablecoin, accounting for over 60% of the market.

Bookmark (0)
ClosePlease loginn

Bittrex Quits US, Cites Unfavorable Regulatory Environment

Crypto exchange Bittrex said it was leaving the United States because of the regulatory environment.
The crypto company had had previous skirmishes with financial regulator in the country.
Crypto stakeholders have warned that the US regulatory landscape would force many firms out of the country.

Bookmark (0)
ClosePlease loginn

Solana overcomes FTX fiasco — SOL price gains 100% in Q1

The cryptocurrency market may have overreacted to Solana’s FTX links and its tainted boss, Sam Bankman-Fried.

Bookmark (0)
ClosePlease loginn

Elon Musk requests dismissal of $258B Dogecoin lawsuit: Report

The plaintiff’s brought up Musk’s Saturday Night Live appearance in 2021, where he portrayed “a fictitious financial expert” and called Dogecoin “a hustle,” resulting in a steep price decline minutes later.

Bookmark (0)
ClosePlease loginn

Here’s how the crypto industry is using artificial intelligence

The rise of artificial intelligence, though in its early stages, has found use cases in crypto through countless projects.

Bookmark (0)
ClosePlease loginn

Leave a Reply

Your email address will not be published. Required fields are marked *