CZ Forecasts Historic Shift: Bitcoin to Surpass Gold by Next Bull Market
Binance founder Changpeng Zhao (CZ) predicts that Bitcoin will surpass gold in value as early as the next bull market, according to a statement made during the Bitcoin Asia conference.
CZ believes that several factors will contribute to this shift, including the narrowing valuation gap between the two assets, a new bull market, and national strategic reserves strengthening demand for Bitcoin.
The current market capitalization of gold is over 18 times that of Bitcoin, with each Bitcoin in circulation worth around $79,000. To reach parity with gold's market value, Bitcoin would need to increase to nearly $1.56 million per coin.
CZ also notes that the correlation between Bitcoin and gold prices is increasing, while their relationship with the Nasdaq 100 is decreasing.