Adam Back, co-founder of Blockstream, predicts that Bitcoin-focused investment firms are significantly advancing the adoption of Bitcoin, potentially pushing its market value to $200 trillion. He emphasises that companies such as MicroStrategy exemplify a strategic move to treasuries that could lead to widespread corporate Bitcoin holdings. With changing regulatory landscapes, banks are now more encouraged to adopt Bitcoin as a standard asset.
Investment firms that focus on Bitcoin treasuries are significantly shaping the future of global Bitcoin adoption, a phenomenon Adam Back is dubbing as “hyperbitcoinization.” Back, who co-founded Blockstream and created Hashcash, believes this trend could see Bitcoin’s market cap hit a staggering $200 trillion in the next decade. He argues that companies with Bitcoin holdings are taking advantage of a gap between the present fiat system and Bitcoin’s future potential.
In a post on X dated April 26, Back emphasized that companies like MicroStrategy, which holds a substantial amount of Bitcoin, represent a kind of arbitrage situation — a strategic exploitation of market inefficiencies. He stated that thousands of corporations could potentially transition to holding Bitcoin as a treasury asset, suggesting that we should be paying attention to this movement, which he describes as scalable and sustainable.
“Hyperbitcoinization” is essentially the idea that Bitcoin will become the dominant global currency, overtaking traditional money systems, primarily due to its limited supply and waning trust in existing financial institutions, according to Back. He remarked that Bitcoin’s price appreciation outpacing inflation is crucial to this process. Some sceptical observers may think that this treasury strategy is just a phase, but Back insists it’s a sensible long-term play, adding that Bitcoin’s value should consistently rise above standard inflation and interest rates.
Back’s remarks come on the heels of new developments in the US, as President Trump recently signed an executive order aimed at creating a national Bitcoin reserve from confiscated Bitcoin. This could signal further acceptance of the cryptocurrency at a national level.
Moreover, global firms are ramping up their Bitcoin investments. For instance, MicroStrategy, the largest corporate holder of Bitcoin, has reportedly made a whopping $5.1 billion in profits from its treasury since early 2025. Similarly, the Japanese firm Metaplanet, often dubbed “Asia’s MicroStrategy,” has been aggressively accumulating Bitcoin, surpassing 5,000 BTC recently and aiming to acquire a total of 21,000 BTC by 2026.
With changing regulatory attitudes, US financial institutions are becoming more open to Bitcoin as the Federal Reserve has removed its previous discouragements regarding crypto engagement. Commenting on this shift, MicroStrategy’s co-founder Michael Saylor expressed confidence that banks are now positioned to start integrating Bitcoin into their operations. Nexo analyst Iliya Kalchev also pointed out that banks will now be under regular regulatory oversight, hinting at a more accommodating environment for digital assets.
