Binance co-founder Changpeng "CZ" Zhao told attendees at the Bitcoin Asia 2026 conference in Hong Kong on Thursday that bitcoin (BTC) could overtake gold in market value in the next bull cycle.
Zhao said gold’s market capitalization is still about 10 times larger than bitcoin’s.
He argued that closing that gap would be part of a broader shift in how investors view reserve assets, rather than simply a matter of price.
"Major countries have built complete valuation, reserve, and trading systems around gold, so a shift to bitcoin will not happen overnight," Zhao said, adding that sovereign reserve allocations will eventually tilt toward digital assets, with bitcoin representing over 50% of strategic crypto holdings alongside assets like Ethereum (ETH) and BNB.
His comments come after a sharp rebound in bitcoin.
