Changpeng “CZ” Zhao, the co-founder of Binance, has forecasted a massive surge in Bitcoin’s price, predicting it could climb to between $500,000 and $1 million in the current market cycle. His prediction comes as a result of growing institutional interest in digital assets and the increasing adoption of Bitcoin spot exchange-traded funds (ETFs).
Speaking during a recent interview on Rug Radio, published on May 5, CZ highlighted the shift in how traditional finance is engaging with the cryptocurrency market. He pointed to the rise of Bitcoin ETFs as a key factor driving the cryptocurrency’s price upward. “ETFs are bringing traditional money into crypto, and most of the money in the U.S. is institutional,” Zhao said. “Bitcoin is going up because most of the ETFs are Bitcoin-based.”
Zhao also noted that several governments, including El Salvador, have begun buying Bitcoin. In April, El Salvador added 7 more BTC to its holdings, bringing the country’s total to around 6,170 BTC, worth nearly $580 million. This, according to Zhao, signals growing government confidence in Bitcoin as a legitimate investment.
The Binance CEO further discussed the changing U.S. regulatory landscape under President Trump, claiming that the country’s stance on cryptocurrency has shifted in favor of the industry. He believes this trend could inspire other nations to follow suit.
In the interview, Zhao emphasized that retail investors had had ample opportunity to invest in Bitcoin over the past 15 years. He suggested that those who missed out on the opportunity were responsible for their decisions. He also touched on various topics, including artificial intelligence, meme-coins, and decentralized science. While he expressed optimism about AI and scientific advancements, he dismissed the long-term potential of many meme-coins.
As of the latest update, Bitcoin is trading at $95,073, down slightly by 0.44% for the day but up 19% over the past month, according to CoinMarketCap.
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