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 global macro landscape and monetary system become more uncertain 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.