Bitcoin Could Overtake Gold in Next Bull Run, CZ Predicts

Binance founder Changpeng Zhao (CZ) says bitcoin could eventually overtake gold in value, potentially as soon as the next bull market. According to CZ, the current valuation gap between the two assets is near 10 times.

CZ's prediction comes as bitcoin trades increasingly like a precious metal and less like a technology stock, strengthening the digital-gold argument. The 90-day correlation between bitcoin and gold has climbed to about 0.57, from 0.21 in March, while its correlation with the Nasdaq-100 has fallen.

CZ believes that sovereign adoption is key to bitcoin surpassing gold's market value. 'If bitcoin becomes a strategic reserve asset for nations, does it eventually become more important than gold? For sure,' he said.