Blockstream chief executive Adam Back has a huge prediction for Bitcoin’s (BTC) market cap.
Back says on the social media platform X that the business intelligence firm Strategy and other companies employing a BTC treasury policy “are an arbitrage of the dislocation between the Bitcoin future and today’s fiat world.”
“A sustainable and scalable $100-$200 trillion trade front-running hyperbitcoinization. Scalable enough for most big listed companies to move to BTC treasury.”
Back argues a strategy involving the flagship crypto is “a logical and sustainable arbitrage.”
“But not forever, the driver is Bitcoin price going up over four-year periods faster than interest and inflation. Post-hyperbitcoinization, mNAV probably trends to 1.”
MNAV stands for “multiple of net asset value,” and it refers to the ratio of a company’s stock price in relation to the value of the Bitcoin that the company holds per share.
Back also says BTC treasuries are part of a long-term effort to reprice the world in Bitcoin. The Blockstream CEO argues BTC will “become the hurdle rate for operating companies.”
Bitcoin is trading at $93,773 at time of writing. The top-ranked crypto asset by market cap is up nearly 8% in the past seven days.
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