Bitcoin Will Hit $1M 'Much Quicker' Than Anticipated, Binance Founder Predicts

Binance founder Changpeng Zhao says Bitcoin (CRYPTO: BTC) could hit $1 million much sooner than people expect—and the next bull run could be when it finally passes gold.

Why CZ Thinks $1 Million Comes Faster Than Expected

Zhao said at Bitcoin Asia in Hong Kong that Bitcoin reaching $1 million “will be a good thing” and that he doesn’t think the crypto industry needs a quarter century to get there. 

He tied that price target to utility growing alongside it, pointing to Bitcoin payments happening at massive scale and Bitcoin becoming part of retirement and pension fund reserves.

On gold specifically, Zhao said Bitcoin will “for sure” become more important than the metal.

He noted the market cap gap between the two sits at roughly 10x today, a gap he believes could close as soon as the next bull run starts.

How CZ Advises Countries to Allocate Reserves

Asked what percentage of a national reserve he’d recommend allocating to Bitcoin, Zhao offered a simple framework: take the top five cryptocurrencies by market cap and allocate proportionally. 

That typically works out to roughly 50% or more in Bitcoin, 10% to 20% in Ethereum (CRYPTO: ETH), with BNB (CRYPTO: BNB) and others filling the remainder.