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Co-founder of Binance Changpeng 'CZ' Zhao: the price of Bitcoin 'should be much higher' than $850,000.
During the Bitcoin MENA 2024 conference in Dubai, co-founder of Binance Changpeng 'CZ' Zhao shared his vision for the future of Bitcoin. Speaking on a panel discussion, he stated that the first cryptocurrency should be viewed not as a separate asset but as regular money.
'We should not call it Bitcoin — it’s just money,' CZ emphasized, highlighting that the use of cryptocurrency will significantly increase in the coming years.
In his opinion, the recognition of Bitcoin by governments will inevitably raise its value due to the simple math of supply and demand. He also noted that currently around 5-10% of people are investing in BTC, and this figure will only grow.
'We haven't even crossed the critical threshold, which is usually around 20%. But in the coming years, Bitcoin will achieve more mass adoption — 50%, 70%, and even 100%, although this may take several generations,' CZ noted.
Zhao is confident that the market capitalization of Bitcoin should exceed that of gold, which currently stands at about $18 trillion. Then the price of one BTC will reach $850,000 — $921,000.
During the Bitcoin MENA 2024 conference in Dubai, co-founder of Binance Changpeng 'CZ' Zhao shared his vision for the future of Bitcoin. Speaking on a panel discussion, he stated that the first cryptocurrency should be viewed not as a separate asset but as regular money.
'We should not call it Bitcoin — it’s just money,' CZ emphasized, highlighting that the use of cryptocurrency will significantly increase in the coming years.
In his opinion, the recognition of Bitcoin by governments will inevitably raise its value due to the simple math of supply and demand. He also noted that currently around 5-10% of people are investing in BTC, and this figure will only grow.
'We haven't even crossed the critical threshold, which is usually around 20%. But in the coming years, Bitcoin will achieve more mass adoption — 50%, 70%, and even 100%, although this may take several generations,' CZ noted.
Zhao is confident that the market capitalization of Bitcoin should exceed that of gold, which currently stands at about $18 trillion. Then the price of one BTC will reach $850,000 — $921,000.
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