In a report published on November 12, 2026, TechFlow said Blockstream CEO Adam Back had recently told CNBC that he personally bet Bitcoin would reach $1 million in 2028. That is his forecast, not a confirmed market trajectory.
Back argued that Bitcoin adoption remained early, estimating that about 95% of potential adoption had yet to happen. He said large pools of institutional capital, including pension and mutual funds, had not fully entered the market and could become a significant source of demand. He also suggested that continued institutional participation could gradually raise Bitcoin’s long-term price floor.
Those claims rest on future adoption and demand that the report does not establish will occur. The $1 million figure remains Back’s personal prediction.