Bitcoin price is strangely low right now and could surge to $500,000 or even as high as $1 million per coin this four-year cycle, Adam Back said.

In an interview with Decrypt, the famed computer scientist and Blocksteam CEO said that given all the institutional money flowing into the space, the price of the biggest and oldest cryptocurrency should be higher.

Bitcoin was recently trading for $103,300 per coin—unmoved in the past day but up more than 7% over the past week, according to crypto markets data provider CoinGecko. It is off just 5% from its all-time high near $109,000, despite a late winter, early spring swoon.
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