Bitcoin's recent price volatility should not surprise seasoned observers, according to Adam Back, a key figure in Bitcoin's early development. Speaking at the iConnections conference in Miami Beach, Back noted that Bitcoin's price fluctuations are consistent with historical market cycles, where prices often dip before potential rebounds later in the year. Despite a supportive policy environment and increased institutional access, Bitcoin has fallen approximately 26% over the past year, trading in line with broader risk markets rather than decoupling from macroeconomic uncertainties. Back, CEO of Blockstream, emphasized that institutional adoption of Bitcoin is still in its early stages, with large capital pools yet to fully enter the market. He compared Bitcoin's current volatility to early high-growth equities like Amazon, suggesting that as adoption matures, price swings should moderate. Back also highlighted Bitcoin's long-term potential, noting its market capitalization remains significantly smaller than gold, indicating room for growth as a store of value. Despite short-term fluctuations, Back maintains that Bitcoin's long-term investment case remains strong, with volatility being a natural part of its adoption phase.