NEW: Bitcoin ETF Impact Projected to Outshine Halving Significantly, Says Adam Back

Blockstream’s CEO, Adam Back, a seasoned Bitcoin expert, anticipates a substantial impact on the leading cryptocurrency with the introduction of Bitcoin exchange-traded fund (ETF) inflows. In a recent statement on social media, Back asserted that the influence of ETF inflows is poised to be an astounding 30 times larger than that of the upcoming BTC halving scheduled for April 18th.

Back highlights the role of traditional finance, particularly momentum buying driven by broker sentiment, in this surge. Being an early Bitcoin investor and the innovator behind Hashcash, a key element in BTC mining, Back emphasizes the extraordinary strength of Bitcoin’s fundamentals. Despite recent price declines, Back attributes them more to fear, uncertainty, and doubt (FUD) than substantial net selling, expressing confidence that major net-sellers are scarce. He cautions against panic selling, as weak hands often mistime market bottoms, leading to buying back at higher prices.


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