Bitcoin Could Surpass Gold in Next Bullish Phase, Says Binance Co-Founder CZ
Binance co-founder Changpeng Zhao (CZ) believes that Bitcoin's market capitalization could surpass gold in the next bullish phase.
CZ made this comment at a recent event in Hong Kong, where he also spoke about Bitcoin's future, central bank reserves, and AI-fueled cryptocurrency adoption.
According to CZ, there is currently 'about 10 times' the difference between Bitcoin's and gold's market capitalizations. However, he expects this gap to narrow significantly in the next bullish phase.
CZ also proposed a method for structuring central bank reserves that includes distributing the top five cryptocurrencies by market capitalization - excluding stablecoins - according to their respective market values. This would see Bitcoin comprise more than 50% of the allocation, with Ethereum (ETH) making up around 10-20%, and other assets like BNB also included.
CZ noted that his own company, Binance, has a stake in this proposal due to its association with BNB. He also predicted that AI-fueled cryptocurrency adoption would begin with stablecoins before expanding to other assets, including Bitcoin.