Bitcoin Price Target to Overtake Gold Revealed by CZ
Binance founder Changpeng Zhao believes that Bitcoin could overtake gold in total value within the next market cycle. According to him, the current gap between the two assets is roughly tenfold.
Zhao attributes gold's advantage not to its inherent value as a metal but rather to the mature custody, valuation, and reserve systems already built around it.
He notes that shifting a major economy's reserves typically takes years, but expects the shift to happen eventually. However, he also highlights the risk of a rival digital asset overtaking Bitcoin first, which he considers unlikely for now.
The price target for Bitcoin to match gold's value was estimated at around $697,000 per coin, based on a circulating supply of about 20.08 million BTC. However, this figure is close to the World Gold Council's estimate of investable gold, and does not take into account gold's full above-ground stockpile.
The post also mentions Mexican billionaire Ricardo Salinas Pliego who reached a similar gold-parity estimate using a different supply assumption, landing near $1.86 million per coin.