Adam Back: institutional allocation will drive Bitcoin’s "third wave"
In an interview with Bitcoin Magazine on 1/11, Blockstream CEO Adam Back — one of the longest-standing figures in the Bitcoin community — said that the history of adoption $BTC is moving through distinct waves.
According to him, the first wave came from individuals who mined and bought Bitcoin themselves. The second wave was the ظهور of ETFs, bringing $BTC into the mainstream investment channel. The third wave — expanding through professional wealth management channels — has not yet fully taken shape.
Notably, some large investment banks have recommended allocating 2% to 4% Bitcoin in their model portfolios. If this trend spreads, more and more people will be exposed indirectly to $BTC through mutual funds, pension funds, and insurance products, rather than buying directly on exchanges themselves. Bitcoin treasury companies — businesses that hold $BTC on their balance sheets — were also mentioned by him as one link in this wave.
In other words, Bitcoin’s next growth driver, according to Adam Back, does not lie in retail FOMO, but in how professional asset managers normalize Bitcoin into a standard portfolio weighting.
Currently $BTC is trading around 75.689 USDT, down 0.50% in 24 hours — the short-term market remains calm while Mr. Back’s long-term thesis is gradually being validated by institutional capital flows.
Do you think a 2–4% allocation to Bitcoin in a traditional portfolio is reasonable, or still too risky?
(Not investment advice)
In an interview with Bitcoin Magazine on 1/11, Blockstream CEO Adam Back — one of the longest-standing figures in the Bitcoin community — said that the history of adoption $BTC is moving through distinct waves.
According to him, the first wave came from individuals who mined and bought Bitcoin themselves. The second wave was the ظهور of ETFs, bringing $BTC into the mainstream investment channel. The third wave — expanding through professional wealth management channels — has not yet fully taken shape.
Notably, some large investment banks have recommended allocating 2% to 4% Bitcoin in their model portfolios. If this trend spreads, more and more people will be exposed indirectly to $BTC through mutual funds, pension funds, and insurance products, rather than buying directly on exchanges themselves. Bitcoin treasury companies — businesses that hold $BTC on their balance sheets — were also mentioned by him as one link in this wave.
In other words, Bitcoin’s next growth driver, according to Adam Back, does not lie in retail FOMO, but in how professional asset managers normalize Bitcoin into a standard portfolio weighting.
Currently $BTC is trading around 75.689 USDT, down 0.50% in 24 hours — the short-term market remains calm while Mr. Back’s long-term thesis is gradually being validated by institutional capital flows.
Do you think a 2–4% allocation to Bitcoin in a traditional portfolio is reasonable, or still too risky?
(Not investment advice)
