- Bitcoin’s value could soar as national reserves increasingly include it, says Binance’s former CEO Changpeng Zhao (CZ).
- CZ emphasizes Bitcoin’s future as a utility-driven medium of exchange, reshaping its role beyond investment.
- Despite volatility, Bitcoin recently hit $103,650, reflecting its strong adoption and institutional interest.
Binance’s former CEO Changpeng Zhao (CZ) expressed optimism about Bitcoin’s changing significance beyond its current role. During a recent discussion, Zhao stated that Bitcoin, currently viewed as an investment asset by many, may undergo a transformation in the next decade.
He noted its potential to emerge as a “future of money,” emphasizing its utility and integration into everyday financial systems. Zhao suggested that widespread adoption of Bitcoin as a medium of exchange could redefine its perception.
He drew parallels to Bill Gates’ sentiment about underestimating progress over a decade, hinting at Bitcoin’s untapped potential. Notably, Zhao remarked that nations accumulating Bitcoin in strategic reserves could amplify its value in a mathematically predictable manner.
Bitcoin’s Unlimited Upside Sparks Interest
While Zhao refrained from offering precise long-term price forecasts, his views on Bitcoin’s upward movement are supported by the market. When pressed for a prediction, Zhao maintained that Bitcoin’s growth has “no limit.” Describing its potential as boundless, he underscored the difficulty in quantifying its future value. He concluded his remarks with the now-famous phrase, “To the moon.”
These comments align with recent observations of growing institutional interest in Bitcoin. Zhao highlighted that national reserve accumulation could further enhance Bitcoin’s prominence in the global financial ecosystem.
Price Fluctuations Persist Despite Long-Term Optimism
Bitcoin’s recent price movement reflects its enduring volatility. Last week, the cryptocurrency surged to an unprecedented all-time high of $103,650. However, bearish trends soon followed, pushing its value downward.
Over the past 24 hours, Bitcoin dropped 0.5% to $97,978, though it remains up 4.19% week-over-week. Zhao’s remarks came amid heightened market attention, as short-term fluctuations contrasted with long-term adoption narratives. His focus on Bitcoin’s future utility highlights its growing role beyond speculative trading.
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