Binance Co-Founder Predicts Bitcoin to Reach $1 Million

Changpeng Zhao, a co-founder of the world’s largest cryptocurrency exchange Binance and its former chief executive officer, has predicted that Bitcoin (BTC) will reach $1 million. This prediction was made during an interview in Pakistan, where Zhao was recently appointed as the strategic crypto advisor for the Pakistan Crypto Council (PCC).

During the interview, Zhao discussed various topics related to cryptocurrency, including regulation, the influence of crypto on the younger generation, and the future of crypto in Pakistan. When asked if he believed that Bitcoin would reach $1 million, Zhao responded affirmatively, although he emphasized that this would be a long-term prospect. He did not specify a timeline, such as 2025, but rather suggested that Bitcoin would reach this price "over time."

Zhao highlighted that the crypto industry is still in its early stages, and many people expect rapid progress. He compared the current state of the crypto industry to the early days of video-conferencing platforms and Amazon, noting that significant technological advancements often take years to develop the necessary infrastructure.

Zhao also predicted that governments around the world will eventually start buying Bitcoin. He noted that the United States has already acknowledged Bitcoin as a reserve asset and is building a stockpile of not only Bitcoin but also other cryptocurrencies. Zhao believes that the richest countries will be the first to buy Bitcoin, and those that start later will have to purchase it at a higher price, accumulating less digital gold as a result. He opined that there will be a race among countries to adopt Bitcoin and major cryptocurrencies, which will be beneficial for the crypto industry as a whole, although smaller players may be left behind.

Zhao's prediction aligns with the views of other industry experts, who believe that Bitcoin's finite nature will drive its value higher as more people recognize its scarcity. He suggested that $300 trillion could flow into Bitcoin, potentially pushing its price to $19 million per coin. This perspective underscores the long-term potential of Bitcoin as an asset class, despite the volatility and uncertainties in the market. Zhao's comments reflect a growing optimism within the cryptocurrency community about Bitcoin's future prospects, driven by its increasing acceptance and the development of supporting infrastructure.