Bitcoin Will Hit $1M 'Much Quicker' Than Anticipated, Binance Founder Predicts
Binance founder Changpeng Zhao says Bitcoin could hit $1 million much sooner than people expect—and the next bull run could be when it finally passes gold.Why CZ Thinks $1 Million Comes Faster Than ExpectedZhao said at Bitcoin Asia in Hong Kong that Bitcoin reaching $1 million “will be a good thing” and that he doesn’t think the crypto industry needs a quarter century to get there.He tied that price target to utility growing alongside it, pointing to Bitcoin payments happening at massive scale and Bitcoin becoming part of retirement and pension fund reserves.On gold specifically, Zhao said Bitcoin will “for sure” become more important than the metal.He noted the market cap gap between the two sits at roughly 10x today, a gap he believes could close as soon as the next bull run starts.How CZ Advises Countries to Allocate ReservesAsked what percentage of a national reserve he’d recommend allocating to Bitcoin, Zhao offered a simple framework: take the top five cryptocurrencies by market cap and allocate proportionally.That typically works out to roughly 50% or more in Bitcoin, 10% to 20% in Ethereum , with BNB and others filling the remainder.Why AI Agents Could Become Bitcoin’s Next Big BuyerZhao said AI agents handling automated transactions will likely start with stablecoins before adding Bitcoin, since accepting a stablecoin makes adding other crypto assets straightforward.CZ also said he has spoken directly with several leading AI companies about launching their own tokens to help fund the enormous cost of building data centers:$30 billion to $50 billion: the cost to build just one gigawatt of compute capacity, according to Zhao.Hundreds of gigawatts: what some AI firms he’s spoken with want to build over the next few years.The result: a funding gap pushing some companies to consider tokens tied to data center capacity or subscription access.Zhao said AI-driven trading will likely arrive before AI-driven payments. Trading requires fast analysis of information that AI handles well, while most people remain comfortable swiping a credit card for everyday purchases like hotel bookings.Which Governments Are Moving Fastest on CryptoZhao named the UAE as having the most progressive crypto regulation today, pointing to Abu Dhabi Global Markets granting Binance a license covering nearly all its products.He said the US is focused heavily on stablecoin regulation, while Japan, Hong Kong, Kazakhstan and Pakistan are all advancing, though Pakistan’s implementation still lags its regulatory intent.Zhao pushed back on the idea that Bitcoin alone should dominate the industry, arguing that competition from other blockchains like Ethereum and BNB Chain actually makes Bitcoin bigger, not smaller, by growing the overall crypto ecosystem.Photo via Shutterstock Read Also: