CZ Sees Bitcoin Surpassing Gold in Market Value, Predicts $1M Price Target
Binance co-founder Changpeng 'CZ' Zhao said that Bitcoin could surpass gold in market value in the next bull run, despite gold's current market cap being around 10 times larger.
Zhao made this statement at the Bitcoin Asia 2026 conference in Hong Kong on August 27, where he also discussed the potential for Bitcoin to reach a price of $1 million and his views on the convergence of artificial intelligence (AI) and cryptocurrency.
'I think Bitcoin will, for sure, become more important than gold,' Zhao said, describing Bitcoin as 'just a much better asset than gold'.
Zhao acknowledged that sovereign adoption of Bitcoin as a reserve asset would not happen quickly, citing the complexity of replacing existing gold infrastructure. He recommended a formula for government crypto reserves that includes weighting by market cap, which he noted produces a portfolio with around 50% Bitcoin and 10-20% Ethereum.
Zhao also discussed the potential for AI to improve trading efficiency in cryptocurrency, estimating it could increase trading speed tenfold. He predicted that reaching $1 million would be 'a good thing' and would happen 'much quicker' than 25 years, but emphasized that expanding Bitcoin's real-world utility is more important.