Changpeng "CZ" Zhao, former CEO of Binance, stated that Bitcoin will reach $1 million and that the milestone will arrive much sooner than a 25-year timeframe during a keynote session at The Bitcoin Century conference in Hong Kong.
"I think for Bitcoin to hit $1,000,000 would be a good thing. And it'll happen," Zhao said on the Nakamoto Stage. "I don't think we need 25 years. I think it's gonna happen much quicker."
Bitcoin Overtaking Gold
Zhao predicted that Bitcoin will eventually become more important than gold, though he acknowledged the transition will require time. He noted that gold's market capitalization is approximately ten times larger than Bitcoin's current value.
Zhao suggested that sovereign nations will gradually shift reserve allocations toward digital assets, with Bitcoin comprising more than 50% of strategic crypto holdings alongside Ethereum and BNB.
He also characterized the UAE's cryptocurrency regulatory framework as "the most progressive" and noted that Hong Kong was "moving pretty quickly" in its approach to crypto policy.
Market Context
Bitcoin closed below $65,000 on August 18 and below $79,000 on August 28, according to Coin Metrics data. This remains well below its October 2025 peak of over $126,000. CryptoQuant reported on August 25 that Bitcoin may be entering a new bull-market phase, with its Bull Score index climbing to 80 from 30, contingent on a daily close above the 365-day moving average near $83,000.
Zhao's remarks drew applause from the conference audience, even as the broader crypto sector has faced headwinds with capital and talent migration toward artificial intelligence.
