At the Bitcoin MENA 2024 conference in Dubai, Binance co-founder Changpeng “CZ” Zhao shared his vision for Bitcoin’s future. During a panel discussion, he emphasized that Bitcoin should be viewed not as a separate asset but as regular money.
“We shouldn’t call it Bitcoin—it’s just money,” Zhao stated, expressing confidence that cryptocurrency adoption will grow significantly in the coming years.
CZ stressed that the official recognition of Bitcoin at the government level would inevitably lead to an increase in its value. This growth, he explained, is based on the fundamental principles of supply and demand. Currently, only 5–10% of the global population owns Bitcoin, but this number is expected to grow exponentially.
“We haven’t yet crossed the critical threshold, which is usually around 20%. However, in the coming years, Bitcoin will achieve broader adoption—50%, 70%, or even 100%. Although, this process might take several generations,” CZ noted.
A key highlight of his speech was the comparison of Bitcoin to gold. Zhao believes that Bitcoin’s market capitalization will eventually surpass that of gold, which is currently estimated at approximately $18 trillion. This shift, he suggested, could drive the price of a single Bitcoin to between $850,000 and $921,000.
“Bitcoin outperforms gold in many aspects. Its limited supply, ease of use, and convenience of storage make it a much more versatile asset. Over time, it will become the leading tool for preserving and transferring value,” Zhao explained.
Zhao’s remarks came amid growing discussions in El Salvador about Bitcoin-related legislation. Reports suggest that the country’s government is working on easing regulatory requirements for using Bitcoin as an official currency to attract additional funding from the International Monetary Fund.
Meanwhile, analysts at Bitwise predict that Bitcoin could reach a value of $200,000 by the end of 2025. If the United States adopts a strategic Bitcoin reserve policy, the price could exceed $500,000. By 2029, Bitcoin is expected to surpass gold in market capitalization.
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