Bitcoin to $100,000: Adam Back sends BTC on a moon mission

“Experts” agree: Bitcoin is heading unchecked towards a six-figure price level. Meanwhile, the enfant terrible of the Bitcoin community is back. Opinion Echo.

Price forecasts are the stuff of Hodler dreams. While Shakespeare rotates in his grave in the face of the botched quote, the haggling among the highest bidding bitcoin oracles on social media flourishes as ever. Even though the range could not be wider, one number seems to have been agreed upon as a medium-term price target. Even supposedly conservative analysts like Bloomberg market expert Mike McGlone are now setting the $100,000 mark in stone.

The only real disagreement is over the timing.

Adam Back Plays Bitcoin Lead Pourer

If PlanB’s stock-to-flow model is anything to go by, we’ve already passed the point in early August. The model still leaves some wiggle room, but the “100K” should be under the Christmas tree by then at the latest.

Bitcoin veteran Adam Back feels the same way. The Blockstream CEO was a guest on crypto evangelist Anthony Pompliano’s “Best Business Show” and gave his “cautious” assessment. 100,000 US dollars is “quite possible” this year, says the cryptographer, who was one of the few in direct email correspondence with Satoshi Nakamoto and has immortalized himself as the third Hodler ever in BTC history.

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In the long term, he even doesn’t want to rule out a jump to $500,000, serving the argument that the market capitalization of the digital store of value will replace that of its physical counterpart, gold, in the long run. Because:

Bitcoin is better than physical gold in many ways.

Admittedly: The explanation is not particularly original. The fact that bitcoin-gold flipping also presupposes a rather unlikely, widespread migration of gold investors into bitcoin is also readily swept under the carpet. Nevertheless, the scenario has lost none of its appeal among die-hard Bitcoiners.

Oh shock, Craig is back – and making overtures to Elon Musk

Someone Adam Back should actually know well from the old days is making a comeback after a lengthy absence from crypto show business. Craig Wright, who has worked in so many professions and completed so many training courses that it would go beyond the scope of this article to list them, has made Elon Musk an offer in person.nally invited to this year’s Coingeek Conference in a video message, going all cuddly:

You and I both have a long history of innovation. Especially in the payments space. With your disruptive work at x.com and mine as Satoshi Nakamoto, who invented Bitcoin, a system designed as a simple digital cash system, we can work together to change things.

First, one notes: yes, Craig Wright, without blushing, still thinks of himself as Satoshi Nakamoto. As such, at some point he didn’t want to put up with his “baby’s” developmental problems anymore, and with Bitcoin SV realized Satoshi’s – that is, his – actual BTC vision. Not only is it far superior to the original in terms of scalability and carbon footprint, but it can also embed companies like Tesla or SpaceX in a fertile IoT ecosystem. However, he leaves open how four-wheelers can “exchange energy” with each other via Bitcoin SV and interact with smart cities. Nor does Wright say a word about the 51 percent attack the network suffered earlier this month. And whether the carbon footprint makes such a good argument when such a low hash rate gives hackers a letter of caper is also questionable. In any case, Musk has yet to accept the invitation to the Bitcoin SV conference.

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