Changpeng Zhao, the former CEO of Binance, has predicted that Bitcoin will reach $1 million, and significantly sooner than the 25-year timeline often discussed. Zhao made these remarks during “The Bitcoin Century” session at The Bitcoin Conference in Hong Kong.
Bitcoin’s Ascent to $1 Million
Speaking on the Nakamoto Stage, Zhao expressed his optimism about Bitcoin’s future valuation. “I think for Bitcoin to hit $1,000,000 would be a good thing. And it’ll happen,” he stated, as captured in a video clip shared by Bitcoin Magazine. He further elaborated, “I don’t think we need 25 years. I think it’s gonna happen much quicker.”
The session, held on the opening day of the two-day event at the Hong Kong Convention and Exhibition Center, was moderated by Kevin Follonier, host of “When Shift Happens.”
Bitcoin’s Supremacy Over Gold
Zhao also asserted that Bitcoin is poised to surpass gold in importance. “For sure, I think Bitcoin will become more important than gold. It will take some time, but it will happen,” he declared. He highlighted the significant difference in market capitalization between gold and Bitcoin, estimating gold’s to be roughly ten times larger. Zhao anticipates a future where sovereign reserves shift towards digital assets, with Bitcoin comprising over 50% of strategic crypto holdings, alongside Ethereum and BNB.
A tweet from The Bitcoin Conference account, featuring a graphic with Zhao’s quote “I THINK #BITCOIN WILL TAKE OVER GOLD PRETTY SOON,” underscored this sentiment.
Market Context and Bullish Indicators
While Bitcoin’s price has fluctuated, closing below $65,000 on August 18 and $79,000 on August 28, according to Coin Metrics data, it remains considerably below its October 2025 peak of over $126,000. However, a report from CryptoQuant on August 25 suggested that Bitcoin might be entering a new bull market phase. The firm’s Bull Score index reportedly climbed from 30 to 80, with confirmation expected upon a daily close above the 365-day moving average, which was near $83,000.
Regulatory Environment and Zhao’s Advocacy
The South China Morning Post reported that Zhao’s comments were met with applause from a large audience, despite a prevailing crypto slump where capital and talent are reportedly gravitating towards artificial intelligence.
Zhao also commented on the regulatory landscape, describing the United Arab Emirates’ crypto rules as “the most progressive” and noting that Hong Kong is “moving pretty quickly.” He indicated that his own “tiny bit of advocacy” contributed to the UAE’s recognition of Bitcoin as a store of value.
Zhao’s past legal entanglements include a guilty plea to a U.S. anti-money-laundering charge in 2023, a four-month prison sentence served in 2024, and a presidential pardon from Donald Trump in October 2025. He returned to the U.S. in February for a crypto event at Mar-a-Lago, hosted by World Liberty Financial, an entity backed by the Trump family.
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