The much-anticipated Bitcoin MENA Conference will be grandly held on December 11, inviting many industry leaders to participate. The founder of the well-known exchange Binance, Zhao Changpeng (CZ), will also engage in a fireside chat at the MENA conference and share his views on the future of Bitcoin, from national strategic reserves to global adoption, making it content-rich.
Bitcoin will have more diverse use cases in the next decade, and its value will surpass gold
CZ stated that the value of Bitcoin is not only in its price but in its practicality. "In the future, Bitcoin should not just be for investment purposes but should be the currency itself." He believes that in the next 10 to 15 years, the use cases for Bitcoin will become more diverse, and we may even see more countries adopting Bitcoin as a strategic reserve, which will further drive up the price of Bitcoin.
In the next ten years, the price of Bitcoin could surpass one million dollars. While CZ avoided giving a precise figure, he emphasized that the potential of the Bitcoin market is limitless, even surpassing the value of gold. He added, "The advantages of Bitcoin lie in its transparency and convenience for cross-border transactions, whereas gold is difficult to carry and not suitable as a medium of exchange, but Bitcoin completely solves these issues."
The United States is leading the push for Bitcoin reserves, and global reserve competition is heating up
Recently, the United States has taken the lead in announcing the establishment of a "Bitcoin Strategic Reserve", forcing other countries to follow suit. CZ praised the United States as quite smart, stating that the earlier a country takes action, the greater the benefits, and he believes this is the most effective asset allocation method. As for which country will be the next to adopt Bitcoin as a strategic reserve? CZ thinks smaller countries may act faster, and the competition for reserves will only intensify.
He believes that although some countries have just begun to ban Bitcoin, most countries are now turning towards and starting to adopt it. "You may dislike a country, but you cannot ignore the advantages of internet technology and blockchain technology," CZ stated.
(Brazil is also crazy about Bitcoin reserves: a proposal to reserve 16.6 billion dollars as guarantees for the central bank's digital currency Drex)
China may be quietly laying out a Bitcoin reserve
Regarding whether China will follow suit, CZ stated that China's policies are currently opaque, but he does not rule out the possibility of the country quietly laying out Bitcoin. He noted that Asian cultures often accumulate wealth discreetly, and they may have already started taking action, just not publicly. He also mentioned that Hong Kong could become a "sandbox" for China to experiment with Bitcoin policies, but the current stance on cryptocurrency regulation remains conservative.
Bitcoin mining could be a national-level wealth secret
CZ believes that for countries with ample energy, mining is the best way to convert energy into stored value. He cited Bhutan, which started mining using its rich hydropower resources ten years ago and has now accumulated a considerable Bitcoin reserve. He also emphasized that mining requires scaled operations, and some countries have already begun to establish a presence in the Bitcoin space through mining.
(Bhutan, driven by central bank financing, has become the fourth largest holder of BTC globally)
Super Bitcoinization, in the future, everyone will own Bitcoin
Regarding whether Bitcoin will become a globally unified asset, CZ is optimistic. He believes Bitcoin has the potential to become a global reserve currency, stating that it is the most decentralized and secure asset, and its adoption rate will only continue to rise. He also remains open to other innovations, but currently, he has not seen any technology that could challenge Bitcoin's status.
Regarding how the global cryptocurrency sector will develop next, CZ called on countries around the world to adopt clear and transparent regulatory frameworks and to invest in Bitcoin and related technologies. He believes this will help economic growth and innovative competition. "The future of Bitcoin is limitless, and we are at the starting point of history," CZ expressed optimistically.
(With the rise of digital gold, can Bitcoin replace gold as a national reserve or a tool for de-dollarization?)
This article, Binance founder CZ: Bitcoin's value is expected to surpass gold, the U.S. global Bitcoin reserve competition, and China may quietly lay out, first appeared in Chain News ABMedia.
