Bitcoin to $500,000? Blockstream CEO Adam Back says it's "plausible"

20 Nov, 2018
by Richard Allen
News
Bitcoin to $500,000? Blockstream CEO Adam Back says it's plausible

Chief executive of blockchain startup Blockstream, Adam Back has taken a bullish stance on Bitcoin, even as the currency hits its lowest mark this year.

Back stated that it’s “plausible” that the price of Bitcoin could reach anywhere from $250,000 to $500,000 within the next few years. He also went on to suggest that we could see a flippening between BTC and gold. Bold statements given the current market sentiment, but still well within the realm of possibility.

Litecoin creator Charlie Lee’s brother, Bobby Lee, co-founder of cryptocurrency exchange BTCC, was one of the first to suggest that a flippening between BTC and gold was on the table.

Back’s bullish predictions suggest he believes that the current market downturn will be a short-lived one, which will result in a meteoric bull run. The market has suggested it may have bottomed out, as Bitcoin’s price has been on the rise. While it’s little more than speculation, we can hope.

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