Bitcoin to Overtake Gold in Next Bull Run: Binance Founder CZ

Binance founder Changpeng Zhao believes Bitcoin will overtake gold in value during the next bull run. In a recent conference session, he stated that 'Bitcoin will, for sure, become more important than gold' and argued that the market value gap between gold and BTC has narrowed to roughly tenfold.

Zhao attributed this shift to institutional rather than technical obstacles, citing large countries' existing mechanisms for valuing gold and holding it. He predicted that these countries will eventually 'shift into Bitcoin,' but acknowledged that this process will take time.

When asked about the potential price of Bitcoin reaching $1 million, Zhao replied that 'it would be a good thing, and it will happen' but emphasized that more utility is needed beyond price appreciation. He advocated for widespread adoption of Bitcoin payments and its use as a retirement pension fund reserve.