Blockstream CEO and renowned cypherpunk Adam Back has projected Bitcoin’s market capitalization could soar to an unprecedented $200 trillion by the year 2032.

Renowned cypherpunk and Blockstream CEO Adam Back has projected that Bitcoin’s market capitalization could reach an unprecedented $200 trillion by the year 2032.

Speaking on the growing trend of public companies integrating Bitcoin into their reserves, Back, a long-time Bitcoin advocate and one of the few cited in Satoshi Nakamoto’s original whitepaper, envisioned a future in which this practice becomes more common, leading to a global financial transformation known as “hyperbitcoinization.”

In this scenario, Bitcoin would become the dominant store of value, eclipsing even gold and fiat currencies.

“Strategy and other treasury companies are an arbitrage of the dislocation between the bitcoin future and todays 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.”

Just last week, Back predicted that within the current inter-halving cycle, the price of Bitcoin could reach between $500,000 and $1 million per coin. The next halving is anticipated in April 2028, which many analysts believe could trigger the next major bull run.

Notably, the pundit’s comments come as companies like Michael Saylor’s Strategy continue to expand their Bitcoin holdings. The firm currently stashes over 553,553 BTC, by far the largest amount among public entities. Other major players, including Twenty One Capital, have also entered the arena, fueling speculation that institutional adoption is accelerating.

However, Back’s $200 trillion market cap estimate represents a staggering leap from Bitcoin’s current valuation, which stands at $1.3 trillion. Achieving this target would mean Bitcoin becomes the most valuable financial asset in history, surpassing global real estate, equities, and even sovereign debt markets.

In the past, critics have viewed such projections as overly optimistic, but Back argued that the rate at which Bitcoin has outpaced both inflation and interest rates is a sign of its long-term viability. “The macro environment favors hard assets,” he noted, highlighting the weakening trust in fiat currencies and growing inflationary pressures worldwide.

Further fueling the bullish sentiment, investment firm ARK Invest recently revised its 2030 forecast, setting Bitcoin’s price targets between $500,000 and $2.4 million, depending on adoption rates by institutions and sovereign wealth funds.

At press time, BTC was trading at $95,196, showing a 0.04% increase over the past 24 hours.