At the Bitcoin MENA 2024 conference in Dubai, Binance co-founder Changpeng “CZ” Zhao shared his vision for the future of Bitcoin. Speaking on a panel discussion, he stated that the foremost cryptocurrency should be considered not as a separate asset, but as regular money.
“We shouldn’t call it Bitcoin — it’s just money,” emphasized CZ, pointing out that cryptocurrency usage will significantly increase in the coming years.
In his opinion, state adoption of Bitcoin is inevitable and will boost its value due to the simple math of supply and demand. He also noted that currently about 5–10% of people invest in BTC, and this figure will only grow.
“We haven’t even crossed the critical threshold, which usually is around 20%. However, in the coming years, Bitcoin will achieve more mainstream acceptance — 50%, 70%, and even 100%, although it may take several generations,” said CZ.
Zhao is confident that Bitcoin’s market capitalization should surpass that of gold, which currently stands at about $18 trillion. Then, the value of one BTC could reach $850,000 – $921,000.
“Bitcoin is more than gold. It’s limited in quantity, easier to use, and more convenient to store. In the future, its role as a means of preserving and transferring value will make it more universal than any traditional asset,” stressed CZ.
Meanwhile, CZ’s appearance coincided with news about legislative changes in El Salvador to secure financing from the IMF. The local government plans to relax the requirements for accepting Bitcoin as a legal payment method.
On the eve, analysts at Bitwise predicted that the price of Bitcoin could reach $200,000 by the end of 2025, and if the US strategy to create a strategic Bitcoin reserve is adopted — exceed $500,000. Experts also believe that by 2029 this digital asset could surpass gold in market capitalization.
Spelling error report
The following text will be sent to our editors: