Bitcoin Could Overtake Gold in the Next Bull Run: Binance Founder CZ

What happened

Binance founder Changpeng Zhao said Bitcoin could overtake gold in the next bull run, noting gold is worth about ten times more than Bitcoin and that countries face a years-long process to shift into Bitcoin.

Confirmed

Global impact / market context

If Bitcoin's value approaches gold's, investors might move money from gold into Bitcoin, potentially raising Bitcoin's price and changing how people view it as a store of value, which is an asset that holds worth over time.

Analyst inference

Gold is currently valued much higher than Bitcoin, so any shift would require significant capital spending by countries and investors. This could affect Bitcoin's price and trading activity, but the timeline remains uncertain and depends on adoption.

Analyst inference

What to watch

1. Watch whether countries actually begin shifting reserves into Bitcoin, as Zhao said this process could take years, meaning any major price move may be gradual rather than immediate. Confirmed
2. Investors should monitor Bitcoin's price relative to gold's market value to see if the gap narrows, which would indicate progress toward the overtaking scenario Zhao described. Proposed
3. Watch for regulatory changes that might make it easier for countries to hold Bitcoin, since government adoption would likely require new rules and could boost demand significantly. Analyst inference

Affected assets

• BTC — Bitcoin

Evidence

• decrypt.co