Bitcoin Could Overtake Gold in Next Bull Run: CZ Predicts Institutional Shift

Binance founder Changpeng Zhao believes Bitcoin will surpass gold in importance, and it could happen as soon as the next bull run. He made this statement during a session at the Bitcoin Asia conference in Hong Kong. The market value gap between gold and BTC has narrowed to roughly tenfold, according to Zhao.

Zhao argues that the obstacle is institutional rather than technical. Large countries already have mechanisms for valuing gold and holding it, but replacing that apparatus takes years. He predicts that those countries will eventually shift into Bitcoin, which he believes is a better asset than gold.

When asked whether Bitcoin would outrank bullion for sovereign holders, Zhao replied, 'I think Bitcoin will, for sure, become more important than gold.' He added that in the next bull run, it could happen. Zhao also discussed his reserve advice to governments, which is 'pretty simple and a little bit self-serving.'

He recommends building a crypto reserve by stripping out stablecoins and weighting the five largest cryptocurrencies by market capitalization, resulting in roughly 50% Bitcoin, 10% to 20% Ethereum, and a slice for BNB.