Blockstream CEO Adam Beck expressed confidence that the first cryptocurrency’s exchange rate will exceed $100,000 before the halving of the reward to miners, which will take place next year.
Adam Back made his statement in response to a post by a Twitter user with the pseudonym “Vikingobbitcoin.” Back wrote about his belief that bitcoin won’t exceed $100,000 until 2025. Back, on the other hand, said he could bet “a million satoshis” on BTC rising to $100,000 in the next few months.
Note that a “million satoshis” is now worth about $290. That’s a fairly small amount, considering that Adam Back’s fortune is estimated to be in the tens or even hundreds of millions of dollars.
The next bitcoin halving is due at the end of April 2024. Earlier, Bits.Media published a massive piece on how halving the reward to miners would affect the hash rate of the first cryptocurrency.