Bitcoin Could Overtake Gold in Value, CZ Predicts

Binance founder Changpeng Zhao (CZ) believes that bitcoin could overtake gold in market value during the next bull run. He cites the narrowing valuation gap between the two assets, which is currently around 10 times. The correlation between bitcoin and gold has also increased to about 0.57, with a decreasing link to tech stocks.

CZ highlights that sovereign adoption of bitcoin as a reserve asset by governments could accelerate this shift. He notes that institutional inertia due to existing gold management systems may hinder this progress, but believes that if governments treat bitcoin as reserve collateral and its market behavior aligns more with gold, bitcoin's rise could challenge traditional asset markets significantly.