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Binance founder Changpeng Zhao said Bitcoin will reach $1 million far sooner than the 25-year timeline some have projected. Speaking at a conference in Hong Kong, he noted that gold’s market capitalization is roughly 10 times that of Bitcoin and predicted that central bank reserve allocations will eventually tilt toward digital assets. He described the UAE’s virtual asset regulations as the most progressive and said Hong Kong is moving quickly as well. In a separate interview, Zhao admitted he underestimated the growth potential of the real-world asset tokenization market and failed to anticipate the rise of NFTs and meme coins. While Bitcoin remains well below its October 2025 peak, CryptoQuant has suggested the market may be entering a new bull phase.
Key Elements
Binance founder Changpeng Zhao (CZ) said Bitcoin will reach $1 million (approximately 1.4 billion won) far sooner than expected. He also acknowledged that he underestimated the growth potential of the real-world asset tokenization (RWA) market, admitting he missed several major trends in the digital asset space.
Speaking on the Nakamoto Stage at a conference held at the Hong Kong Convention and Exhibition Centre, Zhao said, “Bitcoin reaching $1 million is a good thing, and it will definitely happen. I don’t think it needs to take 25 years. It will come much sooner.”
His remarks were made at the same event last week and were confirmed in a video released by Bitcoin Magazine, which is owned by conference organizer BTC Inc.
Zhao expressed strong conviction when comparing Bitcoin to gold. “I’m confident Bitcoin will become more important than gold. It will take time, but it will definitely happen,” he said, noting that gold’s market capitalization is roughly 10 times that of Bitcoin. He predicted that central bank reserve allocations around the world will eventually tilt toward digital assets, with Bitcoin accounting for more than 50% of strategic virtual asset holdings alongside <a href="https://xpertsstudio.com/ethereum-faces-2-3k-test-despite-12-day-etf-inflow-streak/” title=”Ethereum Faces $2.3K Test Despite 12-Day ETF Inflow Streak”>Ethereum (ETH) and BNB.
The remarks drew applause and cheers from the large audience in attendance, according to the South China Morning Post. The optimistic outlook came at a time when the digital asset market has been struggling, with capital and talent migrating toward artificial intelligence.
Bitcoin closed below $65,000 on August 18 and reached $79,000 on August 28. It remains far below the $126,000 peak recorded in October of last year. However, CryptoQuant said in an August 25 report that Bitcoin may be entering a new bull market phase. The firm noted that its Bull Score index has risen from 30 to 80, and a daily close above the 365-day moving average of approximately $83,000 would confirm the start of a bull market.
Zhao also offered his assessment of the regulatory landscape. He described the United Arab Emirates’ virtual asset regulations as “the most progressive” and said Hong Kong is “moving quite quickly.” He added that he made a “very small contribution” to the UAE’s recognition of Bitcoin as a store of value.
In a separate interview, Zhao admitted his judgment on the RWA market was off the mark. “Until about a year and a half ago, I didn’t expect RWA to grow to this scale,” he said. “Now I’m beginning to understand why RWA is attractive.” He also confessed that he failed to properly anticipate the growth of non-fungible tokens (NFTs) and meme coins. “There have been many trends in the digital asset market that I didn’t foresee at first,” he said. “In many cases, I only understood why they became popular after they actually gained traction.”
The RWA market has been expanding rapidly recently, with growing examples of traditional financial assets such as U.S. Treasuries, equities, and private credit being tokenized on blockchain networks. Global financial institutions and digital asset companies are also rushing to build related products and infrastructure, accelerating market growth.
Zhao pleaded guilty to U.S. anti-money laundering violations in 2023 and completed a four-month prison sentence in 2024. He was subsequently pardoned by President Donald Trump in October 2025, and in February of this year, he visited the United States to attend a digital asset event at Mar-a-Lago hosted by World Liberty Financial, which is backed by the Trump family.
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Source: finance.biggo.com