Adam Back Backs his Prediction about $100k Bitcoin Price
With Bitcoin persisting to rebound crazy in the last few months, it is coherent that many are asking if retribution is anticipated. And despite his reservations about its long-term prospects, billionaire venture capitalist and entrepreneur, Adam Back admits that the current price action does look rather frothy. But he still stands by his previous $100k price target for this year. Adam’s $100 000 price forecast for BTC For those who aren’t aware, Adam Back made a controversial bet that Bitcoin’s price would hit $100 000. While this number still seems a bit arbitrary, it is important to remember that the bet had nothing to do with the current price at the time. It is all about the future price of Bitcoin. And this brings us to the first point. Adam said that he believes Bitcoin’s fair value is $100 000 since it is a store of value and a settlement network. But since Bitcoin’s average daily transaction value is less than $100k, it will be quite some...
