Bitcoin

Million

Hedge

According to recent <a href="https://cointelegraph.com/news/adam-back-bitcoin-price-bet-all-time-high-halving" rel="noopener noreferrer nofollow">reports</a>, Adam Back, a British cryptographer and cypherpunk, has joined an expanding circle of financial experts who have recently become bullish on Bitcoin’s valuation before the halving event next year.&nbsp; 
<h2 id="span-style-font-weight-400-bitcoin-to-100k-span">Bitcoin to $100K?</h2> 
The CEO of Blockstream appears to be fairly certain that Bitcoin will reach a record-high value of more than $100,000 before halving in 2024 and he is prepared to bet a million dollars on it. 
Back <a href="https://pbs.twimg.com/media/F2xaTKPWwAELQjE?format=jpg&amp;name=large" rel="noopener noreferrer nofollow">engaged</a> in a bet with anonymous X account @Vikingobbitcoin on Aug. 7 over Bitcoin reaching $100,000 by March 31, 2024 in an exchange on X which was previously known as Twitter. 
<h3 id="span-style-font-weight-400-a-new-ath-span">A New ATH</h3> 
Back expects that the value will “probably” attain an all-time record high earlier than the real date of the halving, hence the betting date is around a month prior to the halving. 
However, this is not the first time Back has professed his admiration for Bitcoin; he was also optimistic about <a href="https://thecoinrise.com/is-bitcoin-legal/" rel="noopener noreferrer nofollow">Bitcoin</a> in the past, predicting that Bitcoin might reach $10 million by the sixth halving in 2032 in February.&nbsp; 
<h2 id="span-style-font-weight-400-a-million-satoshis-span">A Million Satoshis</h2> 
However, this time, Back is in fact putting money on, in order to back up his estimations. Nonetheless, the money he <a href="https://s3.cointelegraph.com/uploads/2023-08/0069d9f7-ef10-4ef8-9b41-9fbcc09eb323.PNG" rel="noopener noreferrer nofollow">bet</a> on is only a million satoshis, not US dollars, which are just worth $290 at the moment.&nbsp; 
With this wager, Back joins venture entrepreneur and angel investor Balaji Srinivasan, who stated in March that hyperinflation is already underway. He also <a href="https://thecoinrise.com/former-coinbase-cto-bets-1m-on-the-bitcoin-price-action/" rel="noopener noreferrer nofollow">bet $2 million on Bitcoin hitting $1 million</a> in 90 days since he believed it could occur quickly.&nbsp; 
<h3 id="span-style-font-weight-400-bitcoin-is-an-important-hedge-against-inflation-span">Bitcoin is an Important Hedge Against Inflation</h3> 
Novogratz, a well-known financial expert, recently voiced that he believes that <a href="https://thecoinrise.com/mike-novogratz-asks-investors-to-leverage-rising-national-debt-to-stack-up-bitcoin/" rel="noopener noreferrer nofollow">Bitcoin is capable of functioning</a> as an important hedge against the potential implications of this increasing debt. Novogratz has earnestly advised investors to consider taking action by contemplating obtaining Bitcoin (BTC) in the midst of a shocking revelation with regard to the continually increasing national debt of the United States of America. 
The post <a rel="noopener noreferrer nofollow" href="https://thecoinrise.com/blockstream-ceo-is-sure-bitcoin-will-hit-100k-before-next-halving/">Blockstream CEO is Sure Bitcoin will Hit $100K Before Next Halving</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://thecoinrise.com">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Blockstream CEO is Sure Bitcoin will Hit $100K Before Next Halving

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