- CZ predicts Bitcoin will eventually hit $1 million, though it may take time.
- CZ expects countries to race to buy Bitcoin, with early adopters securing lower-priced assets.
- Government involvement in Bitcoin will boost the crypto industry, but slower nations risk falling behind.
According to Changpeng Zhao, co-founder and former CEO of Binance, the world’s largest cryptocurrency exchange, the BTC price prediction is ultra bullish. Foretelling a future BTC that tops $1 million, the crypto influencer Zhao, also known as CZ, is joining a growing band of crypto elite who fancy BTC heading for a super flight.
In a recent interview, CZ made this bold claim out loud while serving as the strategic crypto-advisor for the Pakistan Crypto Council (PCC), which he recently joined.
Bitcoin Poised to Reach $1 Million, According to CZ
Talking to Bilal bin Saqib, CEO of the Pakistan Crypto Council, the topic of crypto regulation and its impact on the younger generation, as well as the broader future of digital assets in Pakistan amongst other issues, was addressed with Zhao.
When asked if he thinks BTC can reach $1 million, it’s safe to say Zhao is looking forward to making that prophecy come true. Nevertheless, he stressed a long-term investment lens, in which he is convinced BTC will reach that valuation, but it may not happen as early as 2025. However, he anticipates that BTC ascent to that apex will occur “over time.”
However, CZ pointed out that, like the crypto industry, the group remains early-stage, and many people still have high hopes for rapid, instant development.
Global Governments Will Race to Buy Bitcoin, CZ Predicts
Zhao also discussed the future direction of Bitcoin and the role of governments in the BTC and crypto space. According to him, nation states will eventually begin to buy BTC, just as the United States began buying BTC and other cryptocurrency for strategic reserves.
CZ explains that countries that act rapidly to amass BTC will be the significant winners versus those who take more time to do so. That means that the wealthiest countries will buy BTC first. Those are gonna buy a whole lot of it,” Zhao said. Early adopters would have lower prices at which to acquire BTC, whereas latecomers would have extremely high costs at which they could acquire BTC and purchase fewer assets.
Zhao predicted that there would be a race to become countries that adopt BTC and major cryptocurrencies. He concluded that this trend would ultimately benefit the wider crypto industry, as smaller and less agile nations might be left behind.
As of the time of writing, the value of Bitcoin is $85,045.
