Changpeng Zhao, Binance’s co-founder, asserts Bitcoin could reach $500,000 to $1 million in this bull cycle, despite recent market consolidations. Speaking on the RugRadio podcast, Zhao shared past predictions during market downturns and noted significant potential increases in Bitcoin’s value and market capitalisation. He also touched on his past meme coin experiences and clarified his position on Binance ownership amidst speculation about a presidential pardon deal.
In a striking prediction, Changpeng Zhao, the co-founder of Binance, foresees Bitcoin reaching between $500,000 and $1 million during this ongoing bull cycle. Zhao, who previously led Binance as CEO, made these bold claims during a recent podcast appearance. The cryptocurrency sector has witnessed its fair share of fluctuations, particularly as Bitcoin soared past the $100,000 mark, which it first achieved last December. It’s worth noting that Bitcoin peaked again at $109,300 on January 20, before facing a recent consolidation phase following a drop from its high.
Zhao shared his forecast while speaking with Farokh Sarmad on the RugRadio podcast, asserting that Bitcoin will likely complete this bull cycle at a remarkable $1 million price point. Interestingly, this isn’t the first time he’s put forth such an audacious prediction. During a market downturn in February, Zhao tweeted that Bitcoin could reach this million-dollar mark, albeit followed by a necessary correction back to around $985,000. However, he had not previously attached a specific timeline to these projections.
What’s critical about this price target is that it implies a staggering 959% increase from Bitcoin’s current trading price of around $94,457. If Zhao’s prediction comes to fruition, it will push Bitcoin’s market capitalisation to approximately $19.8 trillion, which would bring it close to gold’s current estimated valuation of roughly $22 trillion. Additionally, Zhao anticipates that the total global cryptocurrency market might hit a whopping $5 trillion by the year’s end. His statements suggest that this ongoing bull run may extend beyond the traditional 2025 closing of bullish cycles, which has been observed historically.
Comparatively, there have been other forecasts regarding Bitcoin hitting the $1 million milestone. The most ambitious is by Dr. Murray Rudd and Dennis Porter from the Satoshi Action Funds, who project this figure may be seen by January 2027. In contrast, prominent figures, including Cathie Wood and Swan Bitcoin, predict such a price point in the year 2030.
In other news, Zhao briefly touched on his earlier meme coin ventures and a viral moment involving his dog, Broccoli, which he posted about on social media in February. He expressed that he initially did not understand meme coins but wanted to engage with the community following popular request. Despite enjoying the experience, he has no plans to acquire another dog anytime soon.
Furthermore, Zhao addressed speculation regarding his ownership stakes at Binance.US and a supposed deal for a presidential pardon with pro-crypto US President Donald Trump. He clarified that while he recently applied for a presidential pardon, there was no ulterior motive for him to reclaim his CEO position at Binance. He hasn’t made direct contact with Trump in that context, setting the record straight on the matter.
As always, it’s important to note that the opinions expressed here do not constitute financial advice. Investors should conduct their research carefully, considering risks associated with cryptocurrency investments, as the market remains volatile and unpredictable.
