January 27 News, Bitcoin early contributor and Blockstream CEO Adam Back reiterated that if the United States establishes a Bitcoin strategic reserve, the price of Bitcoin could potentially reach $1 million per coin in the long term. As the macro global landscape and monetary system uncertainties increase by 2026, sovereign institutions’ interest in Bitcoin is being reassessed by the market.
Adam Back believes that Bitcoin’s core advantage lies in its strictly limited supply mechanism. The total supply of Bitcoin is encoded in the protocol, with a permanent cap of 21 million coins, and no institution can dilute its value through issuance. Once national-level buyers enter the market, this structure will create a significant supply and demand mismatch. Back estimates that if several major economies each wish to hold about 1 million Bitcoin as reserve assets, the existing circulating supply will be quickly absorbed.
Unlike fiat currency systems, governments cannot “print” Bitcoin, which means all purchases must be completed on the open market. In the context of long-term holders, miners, and institutions already controlling large amounts, new buying pressure will face extremely limited available supply, creating an environment highly conducive to rapid price increases.
Some signs have already begun to emerge. Previously, the Czech National Bank disclosed a Bitcoin purchase of about $1 million, which, although not large, was seen as an important signal of the central bank testing the waters with digital assets. The market generally believes that such operations often start with small-scale testing and may gradually increase allocation over time.
Adam Back also mentioned that geopolitical competition could become another driving force. If a major country takes the lead in including Bitcoin in its strategic reserves, other countries, to avoid falling behind in the financial system, are likely to follow suit. This “reserve race” will further amplify structural demand for Bitcoin.
While the $1 million target remains controversial, the long-term pricing logic of Bitcoin is changing amid the intertwined expectations of fixed supply, institutional adoption, and national-level acceptance. As discussions about Bitcoin strategic reserves continue to heat up, the global positioning of this asset is being rewritten.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
$78,000 BTC Price Support Level Reclaimed, Bitcoin Could Be Entering Bullish Reversal Stage
Bitcoin reclaiming $78k fuels a bullish reversal narrative and potential altseason, with bulls eyeing new ATHs up to $126k–$140k while bears warn of a fake pump before a cycle bottom.
Abstract: The article discusses Bitcoin reclaiming the $78,000 level as a potential bullish reversal that could spur altcoin rallies, outlining bullish and bearish forecasts, possible new ATHs, and rising market optimism.
CryptoNewsLand30m ago
Abraxas Capital Adds 54 BTC, Expanding Long Position to $5M on Hyperliquid
Abraxas Capital boosted its BTC long by 54 BTC (~$4.2M) in two hours, taking longs to $5M at $77,450 avg. After closing shorts on April 12, it began a rolling long build-up.
Abraxas Capital increased BTC exposure on Hyperliquid by 54 BTC in two hours, signaling a rolling long build-up after closing shorts.
GateNews1h ago
Bitcoin Breaks Through $78,000, Ethereum Hits $2,390: Market Panic Eases
Bitcoin breaks through $78,000, while Ethereum climbs above $2,390. This article reviews the V-shaped reversal trend from April 13 to 22, analyzing the evolution of liquidation data and the Fear and Greed Index.
GateInstantTrends1h ago
Arthur Hayes Sets $500K Bitcoin Target for End of 2026
Bitcoin hits $78k as institutions accumulate; Hayes bets $500k BTC and $200 HYPE, centering Bitcoin as his top conviction amid macro uncertainty and potential policy shifts.
Abstract: This article reports Bitcoin’s rise to about $78,000 amid rising institutional accumulation, with roughly 45,000 BTC bought in the past week and more than 1 million BTC added by long-term holders over three months. It notes BitMEX co-founder Arthur Hayes’ end-of-2026 targets—$500,000 for Bitcoin and $200 for HYPE—reflecting Bitcoin as his top conviction and the influence of macro uncertainty and potential liquidity shifts on crypto demand. It also highlights the wildcard of monetary policy moves that could accelerate or derail these targets.
CryptoFrontier1h ago
ZachXBT Warns Against Bitcoin Depot ATM Over 44% Bitcoin Markup
ZachXBT warns Bitcoin Depot ATMs impose steep premiums—$25k fiat at $108k/BTC vs ~$75k market (about 44%), leading to ~ $7.5k loss on 0.232 BTC; also notes a $3.26M security breach.
This article summarizes ZachXBT's warnings about Bitcoin Depot's pricing practices and a recent security breach, highlighting risks from inflated rates and security lapses for users.
GateNews2h ago
Bitcoin Hits 10-Week High After Iran Reopens Strait of Hormuz
Bitcoin surged above $78K after Iran reopened the Strait of Hormuz.
ETF inflows and institutional buying strongly supported the Bitcoin rally.
The market remains cautious despite bullish momentum and ongoing geopolitical uncertainty.
Bitcoin — BTC, recently surged sharply on Friday after
CryptoNewsLand3h ago
