Changpeng Zhao Predicts Bitcoin Will Not Take 25 Years to Reach $1 Million

Changpeng Zhao (CZ), co-founder of Binance, stated that Bitcoin will not take 25 years to reach $1 million. He emphasized that the next phase for Bitcoin relies more on payment, pension reserves, and infrastructure expansion than on price increases. At the Bitcoin Magazine event on August 28, CZ remarked, "It would be great for Bitcoin to reach $1 million," adding, "That will happen, and I don't see it taking 25 years." He noted that merely increasing the price is insufficient for Bitcoin's long-term growth, explaining that Bitcoin payments need to be conducted on a large scale. He also suggested the possibility of Bitcoin surpassing gold, mentioning that the current scale difference between gold and Bitcoin is about tenfold. He anticipates significant development of cryptocurrency infrastructure over the next decade and assessed that the attitude of traditional finance towards Bitcoin has changed in the last two years. CZ explained that while the Bitcoin blockchain does not currently handle tokenization directly, growth with other blockchains will benefit Bitcoin. He highlighted the impact of government regulations on industry development, pointing out that excessive control could hinder industry growth.

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