Adam Back, a renowned British cryptographer and Satoshi ally, has issued a crucial warning to investors interested in accumulating Bitcoin (BTC). In a post on his X handle, Back highlights the short period left for potential investors to own “whole” Bitcoin.
Bitcoin “wholecoiners” face shrinking opportunity
According to Back, interested investors need to “stack fast,” that is, purchase Bitcoin and hold it now because “time (is) running out.”
For context, a wholecoiner owns at least 1 BTC, a significant achievement given that Bitcoin’s supply is capped at 21 million BTC. Out of this volume, institutional investors like Michael Saylor’s Strategy, Binance and BlackRock Bitcoin ETF, among others, have already accumulated a large portion of the 21 million BTC.
Back in his message to investors, said that the digital asset market is approaching a time when the maximum number of people will never be able to own a full Bitcoin. Notably, the increasing value of 1 BTC could make it harder for an average investor to purchase a full BTC.
Additionally, the total supply left is gradually reducing and increasingly difficult to mine. This implies that the price would keep skyrocketing and beyond the reach of individual investors.
The cryptographer’s warning message is clear: investors interested in owning a whole Bitcoin must buy now before it is too late.
Institutional accumulation supports bullish $1 million Bitcoin forecast
In a recent U.Today article, Back opined that the price of Bitcoin could soar to $1 million per BTC given the current market setup with institutional holders.
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As of press time, the Bitcoin price was changing hands at $107,797, representing a 1.63% decline in the last 24 hours. The coin had peaked at $110,384.22 in earlier trading sessions, just about 3% shy of its all-time high (ATH) of $111,970.
Although some consider Bitcoin reaching $1 million as a long-term price possibility, many remain optimistic that the coin could appreciate to $120,000 this June.