Adam Back, the CEO of Blockstream and a self-proclaimed Bitcoin (BTC) founder Satoshi Nakamoto, reiterated his famous prediction that Bitcoin will reach $1 million by spring 2028 in an interview.
Speaking about Bitcoin price targets, Back stated that short-term predictions are difficult, but he believes Bitcoin is “mispriced” at its current levels. Reminding the interviewer that the current price is around $78,000, Back was asked for his opinion on the end of 2026 and beyond, to which he pointed to factors such as technical issues reducing liquidity and exchange malfunctions.
Back commented on the issue as follows:
“I accidentally made a bet with someone on Twitter. They said Bitcoin will reach $1 million at the end of this cycle, around the halving in the spring of 2028. We’ll see if it happens or not.”
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Back also mentioned another prediction that Bitcoin would reach parity (equal value) with gold within the same timeframe, noting that gold has also performed strongly since last year, but pointing to Bitcoin’s “lagging” nature. He explained that Bitcoin shows high positive reflexivity (self-reinforcing momentum) during sudden surges, and this momentum strengthens as selling pressure from miners decreases. The discussion also mentioned that some miners are shifting to artificial intelligence (AI) work. Back stated that this is positive for the remaining miners and that the profitability of Bitcoin mining should converge with AI workloads.
*This is not investment advice.