STATEMENT: Let $A$ be a Banach algebra, then for every $x\in A$ we have $$\lim_{n\rightarrow\infty}\|x^n\|^{1/n}=r(x)$$
Proof: We know that $r(x)\leq \lim \inf_n\|x^n\|^{1/n}$, so it suffices to prove that $$\limsup_{n\rightarrow \infty}\|x^n\|^{1/n}\leq r(x)$$ We need only consider the case $x\neq 0$. To prove our formula choose $\lambda \in \mathbb{C}$ satisfying $|\lambda|<1/r(x)$. We claim that the sequence $\left\{(\lambda x)^n:n-1,2,...\right\}$ is bounded.
Indeed, by the Banach-Steinhaus theorem it suffices to show thatfor every bounded linear function$\rho$ on $A$ we have the following
$$|\rho(x^n)\lambda^n|=|\rho((x\lambda)^n)|\leq M_p<\infty$$
Question: I don't see why Banach-Steinhaus theorem would be sufficient to show that the sequence is bounded. This proof is from A Short Course in Spectral Theory by William Arveson.