Changpeng “CZ” Zhao made headlines earlier this week after saying that Bitcoin (BTC) would hit $1 million and that the climb would not take 25 years.
“I think Bitcoin hitting $1,000,000 would be a good thing. And it will happen,” former Binance CEO said on the conference’s Nakamoto stage, in a video clip published by Bitcoin Magazine, owned by conference organizer BTC Inc.
“I don’t think we need 25 years. I think it will happen a lot quicker.”
Bitcoin overtakes gold?
Zhao spoke at “The Bitcoin Century,” a session moderated by When Shift Happens host Kevin Follonier, on the opening day of the two-day event at the Hong Kong Convention and Exhibition Center.
“Of course, I think Bitcoin will become more important than gold. It will take time, but it will happen.”
He estimated gold’s market capitalization at around ten times that of Bitcoin and said sovereign reserve allocations would eventually shift towards digital assets, with Bitcoin accounting for more than 50% of strategic crypto holdings alongside Ethereum (ETH) and BNB.
CZ SAYS: “I THINK #BITCOIN WILL TAKE GOLD RECOVERY SOON »
“Of course, I think Bitcoin will become more important than gold.”
“It will take time, but it will happen.”
THE BULL RUN IS BACK!
pic.twitter.com/lqsZUnF0Fv
– The Bitcoin Conference (@TheBitcoinConf) August 27, 2026
The rally takes place in an $83,000 test
Bitcoin closed below $65,000 on August 18 and $79,000 on August 28, according to Coin Metrics data, still well below its October 2025 high of over $126,000. But CryptoQuant said in an August 25 report that Bitcoin could enter a new bull market phase, with its Bull Score rising from 30 to 80, and confirmed a daily close above the 365-day moving average near $83,000.
The South China Morning Post reported that the remarks drew applause and cheers from a large crowd, against what it described as a continuing collapse in crypto, with capital and talent turning to artificial intelligence.
Zhao also called the UAE’s crypto rules “the most progressive” and said Hong Kong was “evolving quite quickly.” He claimed “a tiny bit of advocacy” in the UAE’s recognition of Bitcoin as a store of value.
Zhao pleaded guilty to a U.S. anti-money laundering charge in 2023, served a four-month sentence in 2024, and received a presidential pardon from Donald Trump in October 2025. He returned to the United States in February for a crypto event at Mar-a-Lago hosted by World Liberty Financial, backed by the Trump family.
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