$BTC Blockstream CEO and Bitcoin veteran Adam Back believes spot Bitcoin ETFs are one of the most important positive developments for crypto in recent years even more impactful than a pro-crypto U.S. administration. He notes that institutional adoption moves slowly. While BlackRock recommends 2–4% allocation to Bitcoin, many fund managers are still in the early stages of implementation. Back estimates it could take 12 to 18 months for meaningful flows to build. What makes ETFs powerful is their durability. Major players like BlackRock, Morgan Stanley, and Fidelity now have strong business incentives to defend the Bitcoin ETF market, creating a pro-crypto force that can outlast political changes. Back also addressed quantum computing concerns, calling it a real but manageable long-term risk. Institutions are already evaluating it systematically, while retail investors see it as a distant issue. On the four-year cycle, Back believes recurring buyers (ETFs, Strategy, sovereign funds) will eventually overwhelm sellers and support higher prices. #WHBTCReserveBigReveal