According to CoinMeta, Adam Back, the CEO of Blockstream, stated that Bitcoin ($BTC) could reach $1 million by 2028, suggesting that there is still significant room for institutional adoption. He pointed out that mutual funds and wealth management companies may bring in larger amounts of capital into Bitcoin in the coming years, and estimated that 95% of potential institutional adoption is yet to come. Back described the market as being in the early stages of a new bull market, based on Bitcoin's four-year halving pattern and a comparison between the current recovery and previous cycle peaks. He mentioned that the 200-week moving average is around $67,000 and predicted that this indicator will rise as new high prices are reached. Back also referred to Bitcoin as an improved version of gold, emphasizing its scarcity and ease of trading. He believes that the connection between Bitcoin and tech stocks may weaken. The prediction of $1 million is Back's personal bet, which depends on the realization of large-scale institutional allocation and investors' continued emphasis on Bitcoin's limited supply.