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CZ Zhao Changpeng stated that the price of BTC may reach 500,000 to 1 million USD this cycle.
Zhao Changpeng expects that, driven by institutional adoption, growing government accumulation, and supportive U.S. policies for cryptocurrencies, Bitcoin will reach between 500,000 and 1 million USD in this market cycle.
Binance co-founder Zhao Changpeng (CZ) anticipates that Bitcoin's price will peak between 500,000 and 1 million USD in this market cycle.
In an interview with Rug Radio on May 5, Zhao stated that he expects Bitcoin to reach 1 million USD in this market cycle. He also emphasized the role of Bitcoin spot exchange-traded funds (ETFs) in this rally, noting that the increasing institutionalization of Bitcoin is a good thing for the market:
"There are ETFs. This institutionalization of Bitcoin [ ... ] is obviously a positive factor in terms of price movements. Our bags have increased — altcoins not so much, but at least Bitcoin has.
Zhao explained that ETFs are "bringing traditional institutional money into cryptocurrencies," and that "most of the money in the U.S. is institutional money." He said, "Bitcoin is rising because most ETFs are based on Bitcoin.
Alex Obchakevich, founder of Obchakevich Research, told Cointelegraph, "70% of [Bitcoin's growth] is new institutional capital, and the rest is just a reallocation of crypto assets." He emphasized the role of ETFs in driving up Bitcoin prices:
"ETFs, especially Bitcoin ETFs, are the key driving force behind bullish trends, but with smaller volatility adjustments."
The government is also getting involved.
Zhao also emphasized that governments are increasingly purchasing Bitcoin, which is "really good for price movements." He added:
"This is also very good validation."
These remarks were made after several countries accumulated Bitcoin. In late April, El Salvador, the first country to adopt Bitcoin as legal tender, continued to acquire Bitcoin despite comments from the International Monetary Fund (IMF) claiming otherwise. In the 7 days ending April 27, the country acquired 7 BTC, valued at over 650,000 USD at the time.
#美联储FOMC会议
Zhao Changpeng expects that, driven by institutional adoption, growing government accumulation, and supportive U.S. policies for cryptocurrencies, Bitcoin will reach between 500,000 and 1 million USD in this market cycle.
Binance co-founder Zhao Changpeng (CZ) anticipates that Bitcoin's price will peak between 500,000 and 1 million USD in this market cycle.
In an interview with Rug Radio on May 5, Zhao stated that he expects Bitcoin to reach 1 million USD in this market cycle. He also emphasized the role of Bitcoin spot exchange-traded funds (ETFs) in this rally, noting that the increasing institutionalization of Bitcoin is a good thing for the market:
"There are ETFs. This institutionalization of Bitcoin [ ... ] is obviously a positive factor in terms of price movements. Our bags have increased — altcoins not so much, but at least Bitcoin has.
Zhao explained that ETFs are "bringing traditional institutional money into cryptocurrencies," and that "most of the money in the U.S. is institutional money." He said, "Bitcoin is rising because most ETFs are based on Bitcoin.
Alex Obchakevich, founder of Obchakevich Research, told Cointelegraph, "70% of [Bitcoin's growth] is new institutional capital, and the rest is just a reallocation of crypto assets." He emphasized the role of ETFs in driving up Bitcoin prices:
"ETFs, especially Bitcoin ETFs, are the key driving force behind bullish trends, but with smaller volatility adjustments."
The government is also getting involved.
Zhao also emphasized that governments are increasingly purchasing Bitcoin, which is "really good for price movements." He added:
"This is also very good validation."
These remarks were made after several countries accumulated Bitcoin. In late April, El Salvador, the first country to adopt Bitcoin as legal tender, continued to acquire Bitcoin despite comments from the International Monetary Fund (IMF) claiming otherwise. In the 7 days ending April 27, the country acquired 7 BTC, valued at over 650,000 USD at the time.
#美联储FOMC会议
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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