Bitcoin could hit $10M in 9 years but more sidechains needed: Blockstream CEO

Blockstream CEO Adam Back believes the price of Bitcoin

However, responding to another comment, Back also admitted that “we’ve utterly failed to financialize bitcoin” thus far. The cypherpunk suggested that Bitcoin could be used in mortgages where property is used as collateral and Bitcoin as the interest:

“the market in bitcoin-native financialisation is immature, almost untouched. bitcoin structured products, mortgages backed by real-estate but interest guaranteed by BTC, other products make bitcoin easier to use for more people, and match risk profiles. which creates more growth.”

Back added that in order to approach $10 million, BTC would also need to “displace” a significant proportion of store of value premiums in bonds, real estate, gold and stock portfolios.

You think bitcoin twitter is bullish? Hal Finney (@halfin), was calculating a bitcoin price of $10,000,000 per coin just ONE WEEK after the the genesis block on January 3rd, 2009.

Absolute legend. pic.twitter.com/5MptLhEYHL

— Doc (@DrBitcoinMD) August 23, 2019

BTC is currently priced at $21,800.