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BTC 
ETH Changpeng Zhao (CZ) believes that the price of Bitcoin will reach US$1 million. The former CEO of Binance said that there is no need to wait 25 years to achieve this goal, and Bitcoin can reach this level in a shorter period of time.
Zhao Changpeng made the remarks on the first day of a two-day event held at the Hong Kong Convention and Exhibition Center. At the Bitcoin Century conference hosted by Kevin Follonier, CZ argued that Bitcoin will become a more important asset than gold in the long run.
When will Bitcoin reach US$1 million?
CZ said that reaching the US$1 million price level for Bitcoin will be a positive development and he believes this will happen. But he believes investors may not need to wait 25 years for this.
Zhao Changpeng's forecast did not give a specific date. Still, he emphasized that the goal could be achieved "sooner", signaling quite optimistic expectations for Bitcoin's long-term value growth.
This prediction is quite bold compared to the current price of Bitcoin. BTC exceeded US$126,000 in October 2025, setting a record high, and then pulled back sharply.
Can Bitcoin replace gold?
One of CZ's most compelling points about Bitcoin is that this digital asset will become more important than gold over time. Zhao Changpeng believes that this will not happen immediately, but in the long run, Bitcoin may surpass gold.
Zhao Changpeng pointed out that the market value of gold is about 10 times that of Bitcoin. Therefore, if Bitcoin wants to replace gold, it will require considerable valuation increases.
However, gold is not just an investment tool. Major countries have established reserve, valuation and trading systems around gold for many years. CZ therefore believes that the global capital shift to Bitcoin will not happen overnight.
Will Bitcoin's share of crypto reserves increase?
Zhao Changpeng believes that in the future, governments of various countries may allocate more digital assets in their strategic reserves. In his view, Bitcoin may account for more than 50% of the strategic crypto reserves that include assets such as Bitcoin, Ethereum and BNB.
This view is based on the possibility that Bitcoin is no longer just a cryptocurrency favored by retail investors, but could become a reserve asset at the institutional and even national level.
However, whether this scenario can be realized will depend on the regulatory policies of each country and the status of crypto assets in the financial system. Therefore, CZ's remarks are market predictive in nature and should not be regarded as a definite future scenario.
Why is $83,000 so important to Bitcoin?
In the short-term trend of Bitcoin, the US$83,000 level is worthy of attention. According to Coin Metrics, BTC closed below $65,000 on August 18 and below $79,000 on August 28.
CryptoQuant pointed out in its August 25 assessment that Bitcoin may enter the early stages of a new bull market. The company's Bull Score index rose to 80 from 30, while noting that it would need to confirm that the day's closing price was above approximately $83,000 (the 365-day moving average) to confirm a new rising cycle.
CZ also praised the United Arab Emirates's cryptocurrency regulation as the "most forward-looking" approach and mentioned that Hong Kong is also making rapid progress in cryptocurrencies. He claims to have played an advocacy role in pushing the United Arab Emirates to view Bitcoin as a store of value.
The content of this article does not in any way constitute investment advice. The market is highly risky, so please study it yourself before making an investment decision.
