Binance co-founder Changpeng "CZ" Zhao: the price of Bitcoin "should be much greater" than $850,000.
During the Bitcoin MENA 2024 conference in Dubai, Binance co-founder Changpeng "CZ" Zhao shared his vision of future development. Speaking on a panel discussion, he stated that the first cryptocurrency should be viewed not as separate assets, but as regular money.
«We shouldn't call this blockchain — it's just money,» said Minister CZ, emphasizing that the use of cryptocurrencies has significantly increased in recent years.
In his opinion, government spending on the economy is inevitably increasing due to simple mathematical ideas and concepts. He also noted that currently about 5–10% of people invest in BTC, and this figure will only continue to grow.
«We haven't even crossed the lower threshold, which is usually around 20%. But in recent years, more widespread adoption has been achieved — 50%, 70%, and even 100%, though this may take several indicators,» noted C.Z.
Zhao is confident that the market capitalization of cryptocurrency should exceed the capitalization of gold, which currently stands at about $18 trillion. Then the price of one BTC will be $850,000 — $921,000.
«Bitcoin is more than gold. It is limited in supply, easier to use, and suitable for storage. In the future, its role as a means of preserving and transferring value will become more universal than any other asset,» noted CZ.
At the same time, the Czech announcement coincided with news regarding legislative provisions in El Salvador for obtaining funds from the IMF. The local government plans to ease decision-making requirements for legal tender.
Ahead of time, Bitwise analysts predicted that the proposed price could reach $200,000 by the end of 2025, and in the event of the US adopting a reserve creation strategy — exceed $500,000. Experts also believe that by 2029 these digital assets could outpace gold in market capitalization.