Blockstream CEO Adam Back highlighted that firms like Strategy could help Bitcoin reach a $200 trillion market cap by leveraging their Bitcoin-focused treasuries. Back predicts Bitcoin could become a dominant global reserve currency in what he calls hyperbitcoinization. Corporate Bitcoin holdings are on the rise, with Strategy leading significant purchases. Recent reports show corporate Bitcoin balances have grown remarkably in just one month, but this article does not constitute financial advice.
In a recent statement, Blockstream’s CEO Adam Back put forth a bold prediction about Bitcoin’s potential market cap. He contended that firms with Bitcoin-centric treasuries, specifically calling out Strategy – previously known as MicroStrategy – could drive Bitcoin to a staggering $200 trillion market cap. Back believes these companies are effectively capitalising on the disparity between Bitcoin’s future value and today’s fiat currency value.
The approach taken by Strategy and similar firms represents a significant bet on what many are calling ‘hyperbitcoinization’. These companies are investing considerable portions of their cash reserves into Bitcoin, betting on its long-term appreciation compared to fiat currencies, which they see as dwindling in value over time.
Hyperbitcoinization, as defined by Back and others in the Bitcoin community, is a moment when Bitcoin eclipses all fiat money, eventually becoming the world’s reserve currency or the standard for value exchange. He indicated that Bitcoin’s continued ability to outstrip inflation and interest rates in four-year cycles will be crucial to this transformation.
To put things in perspective: achieving a $200 trillion market cap for Bitcoin would require a massive 10,595% surge from its current valuation of $1.87 trillion. This would mean one Bitcoin valued at roughly $10 million, assuming the circuit continues to have about 20 million Bitcoins.
Interestingly, this $10 million target is considerably higher than Back’s previous prediction of Bitcoin hitting $1 million, which he still thinks will happen within this cycle.
On the corporate front, Strategy continues to lead Bitcoin adoption among businesses. They recently revealed they have purchased 15,355 Bitcoins, raising their total holdings to around 553,555 BTC, worth about $52 billion. Notably, their Bitcoin venture has yielded an unrealised profit of $14 billion so far.
Other businesses are clearly taking notes from Strategy’s playbook, as evidenced by the actions of the Japanese firm Metaplanet, which has procured 5,000 Bitcoins and aims to acquire an additional 21,000 BTC by 2026.
Recent insights from André Dragosch, who heads European Research for Bitwise, highlighted a significant uptick in Bitcoin reserves among corporate entities too. Data indicates that corporate Bitcoin holdings have surged nearly 100,000 BTC within the last month, increasing the total from approximately 656,618 BTC at the end of Q1 2025 to 746,302 BTC just weeks later.
This increase, which notably occurred prior to Strategy’s latest purchase, points to a collective rise in corporate Bitcoin reserves nearing 95,000 BTC in only four weeks.
It’s important to mention that this article is for informational purposes and shouldn’t be interpreted as financial advice. The opinions expressed reflect the author’s views and not necessarily those of The Crypto Basic. Readers should conduct their own research before making any investment choices, as The Crypto Basic does not take responsibility for financial losses.
