In a post that’s already stirring attention, Adam Back, CEO of Blockstream and an early Bitcoin pioneer, suggested that Bitcoin could reach $1 million even before Wall Street fully commits.
Referring to BlackRock’s ongoing rollout of a 2% Bitcoin allocation within diversified portfolios, Back argues that such exposure—if adopted by major asset managers—could alone drive the price of BTC to seven figures.
“Even with BlackRock’s 2% allocation… that’d push $1mil/BTC I’d say,” Back wrote.
He added that this price could be achieved even before Wall Street reaches a 10% adoption threshold, emphasizing how limited supply and growing institutional demand form a powerful pricing dynamic.
Institutional Demand Heating Up
Back’s comments come as Bitcoin ETFs and spot investment vehicles continue gaining traction among traditional finance institutions. Analysts believe that even modest allocations—due to the size of institutional capital pools—could place massive upward pressure on Bitcoin’s price over time.
His outlook echoes similar long-term forecasts from Michael Saylor and other high-profile Bitcoin advocates who believe mass adoption by money managers is inevitable.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/heres-how-blackrock-could-send-bitcoin-to-1-million-according-to-adam-back/