Changpeng Zhao Says Bitcoin Could Overtake Gold in the Next Bull Cycle
TL;DR
- Market Shift: Changpeng Zhao said Bitcoin could challenge gold’s valuation as reserve strategies evolve and sovereign allocations gradually incorporate digital assets.
- AI Integration: CZ expects AI-assisted trading to emerge before AI-driven payments.
- Cycle Outlook: CZ believes the next bull cycle may accelerate Bitcoin’s rise, supported by recent price rebounds.
Bitcoin’s long-term trajectory took center stage at Bitcoin Asia 2026 after Changpeng Zhao told attendees in Hong Kong that the cryptocurrency could eventually surpass gold in market value. His remarks came during a period of renewed momentum for BTC, adding weight to a debate that continues to shape investor expectations heading into the next cycle.
Gold Gap and Reserve Asset Shifts
Changpeng Zhao said gold’s market capitalization remains roughly 10 times larger than Bitcoin’s, but he argued that narrowing that gap would reflect a shift in how global markets evaluate reserve assets. He noted that major economies have spent decades building valuation and trading systems around gold, making any transition gradual rather than abrupt. Changpeng Zhao added that sovereign reserve allocations will likely evolve over time, with Bitcoin eventually representing more than 50% of strategic crypto holdings alongside assets such as Ethereum and BNB.
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