Changpeng Zhao Believes Bitcoin at $1M Is Coming ‘Much Quicker’ Than 25 Years

"Major countries have built complete valuation, reserve, and trading systems around gold, so a shift to Bitcoin will not happen overnight," he said.

Changpeng “CZ” Zhao made headlines earlier this week after stating Bitcoin (BTC) will reach $1 million, and that the climb will not take 25 years.

“I think for Bitcoin to hit $1,000,000 would be a good thing. And it’ll happen,” the former Binance CEO said on the conference’s Nakamoto Stage, in a video clip posted by Bitcoin Magazine, which is owned by conference organizer BTC Inc.

“I don’t think we need 25 years. I think it’s gonna happen much quicker.”

Bitcoin Overtaking Gold?

Zhao spoke during “The Bitcoin Century,” a session moderated by When Shift Happens host Kevin Follonier on the opening day of the two-day event at the Hong Kong Convention and Exhibition Center.

“For sure, I think Bitcoin will become more important than gold. It will take some time, but it will happen.”

He put gold’s market capitalization at about ten times Bitcoin’s and said sovereign reserve allocations will eventually tilt toward digital assets, with Bitcoin making up more than 50% of strategic crypto holdings alongside Ethereum (ETH) and BNB.