Here’s How BlackRock Could Send Bitcoin to $1 Million, According to Adam Back

Referring to BlackRock’s ongoing rollout of a 2% Bitcoin allocation within diversified portfolios, Back argues that such exposure—if adopted by major asset managers—could alone drive the price of BTC to seven figures.

“Even with BlackRock’s 2% allocation… that’d push $1mil/BTC I’d say,” Back wrote.

He added that this price could be achieved even before Wall Street reaches a 10% adoption threshold, emphasizing how limited supply and growing institutional demand form a powerful pricing dynamic.

Institutional Demand Heating Up

Back’s comments come as Bitcoin ETFs and spot investment vehicles continue gaining traction among traditional finance institutions. Analysts believe that even modest allocations—due to the size of institutional capital pools—could place massive upward pressure on Bitcoin’s price over time.

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His outlook echoes similar long-term forecasts from Michael Saylor and other high-profile Bitcoin advocates who believe mass adoption by money managers is inevitable.

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