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Adam Back: Bitcoin's market capitalization should reach 200 trillion USD
Adam Back, a symbol of the cypherpunk movement and a veteran British cryptographer, recently made a shocking statement that the market capitalization of Bitcoin "should be around 200 trillion USD." He argued that the continuous money printing globally will cause a strong flow of capital towards scarce assets like Bitcoin.
Back's statement exceeds all traditional expectations, as currently:
Adam Back is no stranger to the Bitcoin community: he is the person quoted in Satoshi Nakamoto's whitepaper and received an email from Satoshi himself in August 2008, before Bitcoin was born. However, it wasn't until 2013 that he started buying BTC – and since then he has always maintained a "permabull" stance, meaning he is extremely optimistic about Bitcoin.
His viewpoint is similar to that of Tim Draper, the famous venture capitalist, who once said that Bitcoin could rise "to infinity" if the USD depreciates significantly due to inflation or a loss of confidence.
Although the figure of 200 trillion USD seems unrealistic at present, Back asserts that this is entirely feasible in a world flooded with money printed by central banks.