U.Today - Changpeng Zhao, a co-founder of the world’s largest cryptocurrency exchange Binance and its former chief executive officer, has dropped a $1-million Bitcoin price prediction, joining a cohort of other crypto influencers who believe that BTC is able to skyrocket that high.
He stated that during a freshly published interview in Pakistan where CZ was recently appointed as the strategic crypto advisor for the Pakistan Crypto Council (PCC).
Bitcoin will hit $1 million, CZ believes
Talking to Bilal bin Saqib, the CEO of the Pakistan Crypto Council, CZ touched on many important subjects — cryptocurrency regulation, what influence crypto has on the young generation and on the future of crypto in Pakistan overall.One of the questions asked by the interviewer was if CZ is a believer that the world’s leading cryptocurrency Bitcoin will reach $1,000,000. Changpeng Zhao said that he believes it will happen. However, he is more likely to have a long-term view on this. Therefore, he is not sure if it is going to happen in 2025 but rather he expects BTC to cost that much “over time.”
He pointed out that the crypto industry is still at the very beginning but many people still prefer that good things happen “instantaneously.”
Countries will race to buy Bitcoin
Another important point made by Zhao is that governments around the world are going to start buying Bitcoin at some point since the world’s largest economy, the U.S., has already acknowledged BTC as a reserve asset and is building not only Bitcoin for the SBR but also other cryptos for the crypto stockpile.Those countries that will begin buying Bitcoin later, CZ stated, will be at a significant distance from those that will start buying into BTC now. “The richest countries are gonna buy Bitcoin first. They’re gonna buy a whole lot of it,” he specified. Then the Bitcoin price will surge, CZ continued, and other countries will have to accumulate digital gold at a much higher price. Therefore, they will be able to buy less than those who stepped in earlier than they did.
“I think we’re gonna see a race towards countries adopting Bitcoin and major cryptocurrencies,” CZ opined. “This is good for the crypto industry as a whole,” he said, adding that smaller players will be still left behind.
At the time of this writing, Bitcoin is changing hands at $83,607.