In a recent social media post, Adam Back has opined that even a 2% allocation recommendation by BlackRock could push the Bitcoin price to the much-coveted $1 million mark.

This implies that some of the largest asset managers actually stick to that allocation percentage.

This comes in response to a recent statement made by Strategy co-founder Michael Saylor, who predicted that Bitcoin would be at $1 million per coin once Wall Street gets 10% exposure to the leading cryptocurrency.

Saylor, whose company is known as the largest corporate holder of the leading cryptocurrency, recently predicted that the price of the leading cryptocurrency could reach $13 million by 2045. Such a target will be achievable in the case of growing institutional demand.

Back, who was famously cited in the Bitcoin whitepaper, previously stated that the price of the leading cryptocurrency could potentially reach $1 million during this cycle.

Recently, the British cyberpunk urged Musk to allocate a higher percentage of his net worth to Bitcoin.

As reported by U.Today, Tim Draper, an early Bitcoin investor, recently opined that Bitcoin could surge to "infinity" against the U.S. dollar if there is hyperinflation. The prominent venture capitalist is convinced that Bitcoin could surge to as high as $250,000 as early as this year. 

Changeng Zhao, the former Binance CEO, is also convinced that Bitcoin will "definitely" be able to reach the $1 million milestone. 

However, some naysayers of the likes of Bloomberg's Mike McGone believe that Bitcoin will struggle to gain a foothold above the $100,000 price level.