Adam Back, the founder of Blockstream, believes that Bitcoin (BTC) has the potential to sustain its growth in the broader cryptocurrency market. He highlights the strong demand for Bitcoin exchange-traded funds (ETFs) and the imbalance between supply and demand as factors that will positively impact prices. Back also mentions that long-term and institutional holders tend to accumulate and hold their assets, reducing the available supply. Additionally, Bitcoin is shrinking on centralized exchanges as investors withdraw their BTC to private wallets, which could increase selling pressure. Back predicts that these factors, along with growing institutional adoption and the establishment of a Strategic Bitcoin Reserve in some U.S. states, will drive up the value of Bitcoin. As of now, the price of Bitcoin is $87,325.13, showing a 1.3% increase in the last 24 hours.



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