#BTCPrediction

Will Bitcoin reach a million dollars?

If you ask Changpeng “CZ” Zhao — the founder of the Binance exchange — the answer may surprise even the most optimistic investors. In his first candid interview since stepping down as CEO and concluding the high-profile federal proceedings in the USA, CZ shared the most bullish forecast of his career. In his opinion, the current bull cycle could take Bitcoin to levels — from $500,000 to as much as $1,000,000 per BTC. Recently, a similar opinion was expressed by Ark Invest.

In a two-hour conversation with Farokhi Sarmad during the Token2049 conference in Abu Dhabi, CZ laid out his thesis: Bitcoin is no longer just a speculative asset. Today, it is becoming a part of the financial infrastructure, and three key factors have, according to Zhao, a huge impact on its future valuation:

- Spot ETFs and a wave of institutional purchases

"Most of the money in the USA is institutional money," CZ said. "ETFs change the game. They allow pension funds and university funds to legally invest in Bitcoin."

- Pro-cryptocurrency policy in the USA and the domino effect

Since Donald Trump's return to the White House, the political climate in the USA has changed dramatically. "We are 180 degrees from where we were a hundred days ago. The new administration is very, very pro-crypto," Zhao noted.

- The collapse of FTX and market cleansing

"Every collapse like FTX is a catharsis for the market," Zhao said. For him, Bitcoin is an asset without counterparty risk, without fraud, and without opacity.