CZ says Bitcoin will reach $1 million and surpass gold

Changpeng Zhao said Bitcoin will reach $1 million per coin and eventually surpass gold's market value. Zhao spoke at Bitcoin Asia in Hong Kong on Thursday. Zhao said Bitcoin could reach $1 million much sooner than 25 years. Zhao said Bitcoin will become more important than gold. He said large countries will eventually recognize Bitcoin as a better asset. Zhao said countries that do not adopt Bitcoin will lose out, similar to countries that do not invest in artificial intelligence. He said Bitcoin is more dangerous for countries that do not use it because they could miss out. Zhao said countries will take time to shift into Bitcoin, but the change will eventually happen. Bitcoin's price rose nearly 12% over the past seven days. Bitcoin reached as high as $81,160 this week before falling to $80,520. Bitcoin's market capitalization was $1.6 trillion, compared with gold's $32.2 trillion market value. The article linked Bitcoin's recent price rise to news that the U.S. Treasury would at least double its liquidity-support buyback operations. It said the announcement weakened the dollar and benefited non-yielding assets such as Bitcoin and gold.