Changpeng “CZ” Zhao, the co-founder of Binance, has made a bold prediction regarding Bitcoin’s future price, forecasting a potential surge to between $500,000 and $1 million in the current market cycle. This optimistic outlook comes as Bitcoin gains more institutional attention and adoption, particularly with the increasing popularity of Bitcoin spot exchange-traded funds (ETFs).
During an interview on Rug Radio published on May 5, Zhao explained that the growing institutional interest in digital assets, coupled with the rise of Bitcoin ETFs, would likely propel the cryptocurrency’s value. He highlighted that while altcoins have not experienced the same level of growth, Bitcoin’s price has been positively impacted by these developments.
“The ETFs are bringing traditional money into crypto,” Zhao noted, adding that Bitcoin’s price is climbing as more ETFs are Bitcoin-based. Zhao also mentioned that various governments, including El Salvador—who made headlines by adopting Bitcoin as legal tender—are increasing their Bitcoin holdings. El Salvador’s latest purchase of seven BTC brought its total to approximately 6,170 BTC, valued at nearly $580 million.
Zhao pointed out that U.S. policy towards cryptocurrency has shifted dramatically under President Trump’s administration, which now seems more favorable toward the industry. He suggested that this change could inspire other countries to follow suit and invest in Bitcoin.
Despite his optimistic outlook for Bitcoin, Zhao emphasized that retail investors had “15 years to buy” and that missing out on this opportunity is ultimately their choice. He also briefly discussed his views on AI, meme-coins, and decentralized science, expressing genuine interest in AI and science but dismissing most meme-coins as lacking substantial potential.
At the time of writing, Bitcoin is trading at $95,073, a slight decrease of 0.44% today but a significant 19% increase over the past month, according to CoinMarketCap.
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