Bitcoin Could Overtake Gold in Value Next Cycle, Says CZ

Binance founder Changpeng Zhao believes that Bitcoin (BTC) could surpass gold in total value during the next bull run, reducing the current gap by roughly tenfold.

Zhao argued at the Bitcoin Asia 2026 conference in Hong Kong on Aug. 27 that gold's edge is due to entrenched custody and valuation systems, not the metal itself.

He noted that matching gold's investable pool would require a Bitcoin price near $697,000 per coin, while full parity with the $31 trillion above-ground stock implies roughly $1.54 million a coin.

Zhao also believes that many countries should start holding digital assets and ranked Bitcoin above gold reserves, saying it would matter more to sovereign balance sheets than the metal.