Changpeng "CZ" Zhao, founder of Binance, predicted at Bitcoin Asia in Hong Kong that Bitcoin will reach $1 million per coin on a faster timeline than commonly anticipated. "I think for Bitcoin hitting a million dollars would be a good thing — it will happen," he said. "You think we need 25 years for that to happen? No, I actually don't think we need 25 years, I think it's going to happen much quicker."
Zhao also stated that Bitcoin will eventually surpass gold in importance as an asset. "Bitcoin will, for sure, become more important than gold," he said, predicting that large countries would eventually recognize the leading cryptocurrency as "a much better asset." Bitcoin's current market cap stands at $1.6 trillion, considerably below gold's $32.2 trillion valuation.
On the topic of government adoption, Zhao warned that nations failing to embrace Bitcoin face strategic disadvantages comparable to those that neglect emerging technologies like artificial intelligence. He compared Bitcoin adoption to technological advancement, saying that countries not investing in or promoting Bitcoin would be at a disadvantage, just as nations that ignore AI development face competitive risks.
Bitcoin's price has recently shown momentum, rising nearly 12% over the past seven days and reaching as high as $81,160 during the week, before settling at $80,520. Price gains followed news that the U.S. Treasury would expand its liquidity-support buyback operations, a development that pressured the dollar while benefiting non-yielding assets including Bitcoin and gold.
Bitcoin Asia, held in Hong Kong, brought together prominent figures in the cryptocurrency industry to discuss topics ranging from treasury operations to blockchain application development.
