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The name claimed to be Satoshi Nakamoto stated that "the Bitcoin price is very low" and shared his own prediction!
Famous computer scientist and Blockstream CEO Adam Back stated that the Bitcoin price is currently lower than it should be and could rise to between 500k and 1 million dollars in the current four-year cycle.
In an interview, Back stated that institutional investments are rapidly increasing, and expressed that Bitcoin's current level remains quite low compared to these developments.
Back, who has a PhD from the University of Exeter in distributed systems and has been interested in cryptography for a long time, said, "In this cycle, prices can rise significantly. This cycle spans several years, so I considered figures like 500k to 1 million dollars because there is a lot of development happening in the field right now."
Back, it was stated that the spot Bitcoin ETFs approved in the US have provided net inflows of over 41 billion dollars and that US President Donald Trump's cryptocurrency friendly policies should push the price up. The SEC's approval of Bitcoin ETFs managed by giants like BlackRock and Fidelity last year has allowed investors who previously had no access to the crypto market to enter the space.
Although Bitcoin reached an all-time high in January, this peak lagged behind historical trends compared to previous halving cycles. Back stated that if Bitcoin reaches a new all-time high, the price could quickly rise much higher. "People usually buy what is rising. If a new ATH comes, the price can increase very quickly," he said.
Adam Back, co-founder and CEO of Blockstream, corresponded via email with Bitcoin creator Satoshi Nakamoto in 2008. The mining process of Bitcoin is based on the proof-of-work system called Hashcash developed by Back.