Changpeng Zhao (CZ), co-founder of Binance, made a striking prediction during the Bitcoin MENA 2024 conference in Abu Dhabi. According to Zhao, Bitcoin has the potential to exceed $850,000 per coin. He bases his statement on the belief that Bitcoin will eventually surpass the market capitalization of gold, which is currently estimated at $18.25 trillion. If that happens, the price of Bitcoin could even reach $921,976 per coin.
Bitcoin is superior to gold
According to Zhao, Bitcoin offers many more advantages than gold, which he describes as an “old-fashioned financial instrument.” Bitcoin has a limited supply of 21 million coins, which creates a unique scarcity. In addition, Bitcoin is easier to use and store than gold. “Bitcoin’s digital nature makes it ideal for transactions and transferring value,” Zhao said. He added that Bitcoin will outpace gold’s growth and lay the foundation for a completely new financial industry.
Growing support for Bitcoin as new gold
Zhao is not the only prominent voice to make the comparison to gold. Previously, Anthony Scaramucci and Howard Lutnick also expressed confidence in Bitcoin as a better investment option than gold. They emphasized that Bitcoin, with its technological advantages and scarcity, will play an increasingly important role in global financial markets.
An ambitious, but achievable vision
With Bitcoin’s recent breakthrough above $100,000, CZ’s prediction seems increasingly realistic. Bitcoin’s rise, combined with its unique properties and increasing adoption, highlights the cryptocurrency’s potential to replace gold’s traditional role. Zhao’s vision reflects the growing belief that Bitcoin is not only a digital alternative, but can also become the foundation for a new financial future.
More optimism during Bitcoin MENA 2024
The conference in Abu Dhabi brought together several prominent voices expressing their optimism about Bitcoin. In addition to CZ, Eric Trump also spoke positively about the future of Bitcoin. He highlighted Bitcoin’s scarcity as a unique feature that gives it the potential to reach the $1 million mark. Meanwhile, Ray Dalio, founder of Bridgewater Associates, warned of the problems of traditional debt instruments and called for investments in “hard assets” such as gold and Bitcoin. These statements reinforce the belief that Bitcoin is not only a valuable digital asset, but also a long-term strategic choice.
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Source: https://newsbit.nl/binance-oprichter-voorspelt-bitcoin-naar-850-000-beter-dan-goud/
