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The Pomp Podcast
#1494 Adam Back | How Bitcoin Hits $1,000,000
Feb 27, 2025
Adam Back, Co-founder and CEO of Blockstream, discusses the thrilling trajectory of Bitcoin toward a potential $1 million valuation. He reflects on the early days of Bitcoin and Satoshi Nakamoto’s impact, elucidating Bitcoin’s evolution from a niche asset to a mainstream investment. Back highlights the growing institutional adoption and the implications for its future, including its potential as a digital currency and store of value. He also examines Bitcoin’s cultural influence and transformative potential in economies worldwide.
49:42
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Quick takeaways
- Adam Back emphasizes the importance of institutional adoption and the role of ETFs in facilitating Bitcoin's mainstream acceptance as an asset class.
- Back highlights how Bitcoin's potential extends beyond investment, serving as a digital currency and store of value in informal economies.
Deep dives
Early Engagement with Bitcoin
Adam Back, co-founder and CEO of Blockstream, reveals his early interactions with Bitcoin, particularly his experience as one of the first recipients of an email from Satoshi Nakamoto. This correspondence in August 2008 centered around referencing Back's earlier work on Hashcash, which Satoshi incorporated into the foundational Bitcoin protocol. Back reflects on the excitement he felt reading about the innovative solutions Satoshi proposed, especially regarding decentralization and the prevention of double spending. His initial focus was not on investment, but rather on building upon Bitcoin’s technology, illustrating his deep engagement with its underlying principles.
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