CZ predicts Bitcoin could surpass gold

Binance founder Changpeng Zhao, widely known as CZ, has predicted that Bitcoin could eventually surpass gold in market value and importance, citing the potential for wider adoption as a national reserve asset. Speaking at Bitcoin Asia in Hong Kong on August 28, 2026, Zhao stated that gold's current advantage stems from established infrastructure rather than the metal itself. Zhao explained that countries have spent decades building valuation, custody, and reserve systems around gold. He believes that while transitioning these systems for Bitcoin will take time, especially for large economies, Bitcoin holds a stronger long-term position. He identified the primary risk to this outlook as the emergence of a more advanced digital asset before Bitcoin can close the gap with gold, a scenario he considers unlikely. The gap between Bitcoin and gold's market capitalization is currently estimated to be about tenfold. Zhao suggested that Bitcoin could reach a price of $1 million per coin, a target that would align with gold's total aboveground stock value of approximately $31 trillion.