The development trajectory of Bitcoin seems to confirm the foresight of early pioneers. Recently, Adam Back—an expert in Cryptography cited by Satoshi Nakamoto in the Bitcoin White Paper—revisited the astonishing prediction made by Hal Finney in 2009. Finney had asserted before the first Bitcoin transaction that the total market capitalization of Bitcoin would reach $2 trillion.

Back, as the inventor of Hashcash technology, agrees with this prediction. He uniquely points out that Bitcoin's real competitors are not other cryptocurrencies, but the entire global value storage market. According to Back's analysis, Bitcoin's market capitalization is about 9 times lower than that of gold, while the broader market, including real estate, stocks, and bonds, has a monetary premium that approaches 10 trillion dollars.

Although some large institutions, such as BlackRock, have suggested allocating Bitcoin in their investment portfolios, Back believes that the participation of institutional funds is still low. He predicts that the real turning point will come when Bitcoin begins to absorb the investment premium of traditional assets like real estate.

Regarding concerns about government regulation, Back stated that when hundreds of millions of users and millions of nodes believe that holding hard currency is a basic right, it will be difficult for the government to stop this trend. He cited the Silk Road incident as an example, pointing out that while the government can shut down servers, it cannot touch the core of the Bitcoin network.

Regarding the potential threat of quantum computing, Back does not seem worried, believing that the current quantum computing capabilities are far from posing a substantial threat to Bitcoin.

Back also explored the deeper implications of the Bitcoin halving mechanism. He believes that over time, people will be more inclined to hold long-term rather than trade frequently, which will lead to a decrease in market circulation. When this artificial scarcity combines with the growing demand, we may witness an unprecedented transfer of wealth—from a centrally controlled fiat currency system to a decentralized network.

Back's final prediction is full of confidence: "If institutions continue to increase investment while retail investors maintain interest, it is entirely possible for Bitcoin to reach that scale." This view not only validates Finney's insights from 15 years ago but also showcases the foresight of early Bitcoin pioneers in an era without exchanges or institutional investment. Their insights are shaping the future of Bitcoin and may redefine the concept of global value storage.