Adam Back Predicts Bitcoin Price Reaching $1 Million: How BlackRock’s 2% Allocation May Drive the Surge

Bitcoin analyst Adam Back believes BlackRock’s recent move to include a 2% Bitcoin allocation in diversified portfolios could unlock the cryptocurrency’s full potential. According to Back, this institutional adoption, if replicated by major asset managers, could drive BTC prices to reach $1 million, potentially even before Wall Street reaches a 10% adoption threshold. He attributes this price surge to limited supply and growing institutional demand as key factors in the dynamic.