Bitcoin Could Overtake Gold in the Next Bull Run: Binance Founder CZ
In brief Binance founder Changpeng Zhao told the Bitcoin Asia conference in Hong Kong that Bitcoin will become more important than gold, with the gap now around tenfold. He said large countries have built systems for valuing and holding bullion, and would take years to shift.
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Key Facts
- Fact 1: That yields roughly 50% Bitcoin, 10% to 20% Ethereum, and a slice for BNB, the token of the exchange he founded.
- Fact 2: A gigawatt of compute costs somewhere between $30 billion and $50 billion, Zhao said, and some firms want hundreds of gigawatts within a few years, running to trillions of dollars.
- Fact 3: Zhao, who left Binance's chief executive role in 2023 after pleading guilty to a U.S.
- Fact 4: Bitcoin reaching $1 million "would be a good thing, and it will happen," he said, and he does not think it needs 25 years.
In brief Binance founder Changpeng Zhao told the Bitcoin Asia conference in Hong Kong that Bitcoin will become more important than gold, with the gap now around tenfold. He said large countries have built systems for valuing and holding bullion, and would take years to shift.
Zhao separately described his reserve advice to governments as "a little bit self-serving," since BNB lands in the basket he recommends. Bitcoin will overtake gold, and it could happen as soon as the next bull run, Binance founder Changpeng Zhao told a conference audience in Hong Kong on Thursday. "I think Bitcoin will, for sure, become more important than gold," Zhao said during a session at Bitcoin Asia billed as "The Bitcoin Century," when asked whether the asset would outrank bullion for sovereign holders.
(Original synthesis pending human/AI review — generated by the stub provider by selecting real sentences from the source material, not by writing new analysis or commentary.)
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