Binance founder Changpeng Zhao, known as CZ, delivered a series of forward-looking remarks on Bitcoin’s trajectory during the opening of the Bitcoin Asia conference in Hong Kong on Thursday. Addressing an audience of industry leaders, he projected that the digital asset would climb to $1 million per coin much more rapidly than many long-term forecasts suggest and would ultimately become more significant than gold in the global financial system.

Price Target and Timeline

Zhao stated that reaching the $1 million mark would represent a positive development for Bitcoin and that the milestone is inevitable. He dismissed the idea that such a level would require a quarter-century to materialize.

He added that price appreciation alone is insufficient. Broader utility remains essential, including large-scale use in payments and recognition as a reserve asset within retirement and pension funds. Zhao expressed confidence that these applications will develop over time.

Bitcoin Versus Gold

Zhao asserted that Bitcoin will surpass gold in importance. He described the cryptocurrency as a superior asset due to its fixed supply, digital form, and ease of global transfer. Current market capitalizations place Bitcoin near $1.6 trillion while gold stands at approximately $32.2 trillion, leaving a substantial gap that he expects to close.

In one exchange he indicated the overtaking could occur as soon as the next major bull market cycle. Large nations already maintain established systems for valuing and storing physical gold, he noted, so any transition to digital reserves will require years of institutional adjustment. Nevertheless, he maintained that the shift is inevitable as policymakers recognize Bitcoin’s advantages.

National Adoption and Strategic Risk

Zhao warned that countries treating Bitcoin solely as a risk may find themselves at a disadvantage. He drew a parallel with artificial intelligence, arguing that nations choosing not to engage with transformative technologies face competitive setbacks.

He has advised governments on establishing crypto reserves, recommending a market-cap-weighted basket of the largest non-stablecoin assets after excluding stablecoins. That approach would allocate roughly half to Bitcoin, with smaller portions to Ethereum and other leading tokens. Zhao acknowledged the suggestion carries a degree of self-interest given Binance’s association with its native token.

Adoption at the sovereign level will not occur overnight, he said, yet a gradual reallocation of reserves appears increasingly likely as the practical benefits of blockchain-based assets become clearer.

Market Context and Broader Industry Views

Bitcoin has advanced nearly 12 percent over the past week, briefly reaching $81,160 before settling near $80,500. The move followed an announcement that the U.S. Treasury would expand its liquidity-support operations, weakening the dollar and lifting non-yielding assets.

Beyond Bitcoin itself, Zhao pointed to continued expansion in real-world asset tokenization, artificial intelligence applications, stablecoins, and both centralized and decentralized exchanges. He rejected the notion of a zero-sum contest among blockchains, stating that networks such as Ethereum and BNB Chain support rather than diminish Bitcoin’s growth. He also suggested the industry would benefit from greater use of the term “Web3” when communicating with wider audiences.

Zhao closed by reiterating that utility and institutional integration matter more than any single price level, while remaining confident that both the $1 million target and gold’s displacement remain firmly on Bitcoin’s horizon.