TechFlow, May 15 — According to Decrypt, Adam Back, CEO of cryptocurrency infrastructure firm Blockstream, said that given the current massive inflow of institutional capital, Bitcoin is severely undervalued. He expects Bitcoin's price to reach $500,000 to $1 million within this four-year cycle.
He believes the current price level isn't high, considering factors such as the approval of spot Bitcoin ETFs and improvements in the regulatory environment. Once Bitcoin reaches a new all-time high, prices could surge rapidly, as brokers and individual investors tend to chase momentum.
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