CZ believes Bitcoin could surpass the $1 million mark in two cycles.

        Binance founder believes Bitcoin could surpass $1 million in two cycles. Image: The Block/YouTube.    

Changpeng Zhao, founder of Binance, believes that Bitcoin could reach US$600,000 in the next cycle. In a conversation with The Block, published on Tuesday (7), the billionaire spoke about various issues in the cryptocurrency market.

Among the highlights are his time in prison, his relationship with OKX, his investment in X (formerly Twitter), Artificial Intelligence, and, of course, his own brokerage firm.

Binance founder discusses Bitcoin cycles and his price predictions.

According to Forbes data, Changpeng Zhao has a fortune of US$107.7 billion, making him the 19th richest man in the world, ahead of names like Bill Gates, founder of Microsoft, and Giancarlo Devasini, the largest shareholder of Tether.

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Asked about his price predictions for Bitcoin, CZ acknowledges that the last Bitcoin bull run was weak, but expects the next one to be better.

“I think the last cycle ended up being affected by the war, the elections, and all of that. It was a weak cycle, in which Bitcoin only doubled. Before that, in the 2017 cycle, it doubled 10 times.”

Next, the founder of Binance argues that it's normal to see volatility decrease as an asset grows. However, he believes that Bitcoin could grow fivefold again. 

Coinsdigital

“I thought the last cycle was a bit weak. It was only 2x. I hope the next cycle corrects that. If the next cycle does 5x, then the price would go up to $600,000.”

The multiplication takes into account Bitcoin's last peak of $126,250.

As the cryptocurrency is trading in the range of US$62,900 at the time of writing, this means the price could rise almost 10 times to reach this target.

For the next cycle, projected for 2033, CZ notes that Bitcoin could easily surpass the $1 million mark, simply by multiplying its peak by only 2 times compared to the previously mentioned $600,000.

"I'm not saying it will happen. I'm just saying it's entirely possible."

CZ also spoke about other controversial topics during the conversation.

In other parts of the video above, Changpeng Zhao also spoke again about his time in prison in the US, a subject already discussed on other occasions , as well as new controversies.

One of them would be a dispute with OKX, formerly OKCoin, the exchange where CZ worked before founding Binance. 

Coinsdigital

“This is not a subject I want to dwell on. I detailed it in my book. Both she [Yi He] and I worked at OKCoin in 2014. I left in early 2015. I felt we left on good terms. After I left, there was a dispute between Star (founder of OKCoin) and Roger Ver over the bitcoin.com domain, which you may be aware of. I ended up being involved in that for a short period. I made my statement on the matter and stayed out of it.”

Next, CZ states that many people are envious of Binance's success, but that the biggest problem would be a direct competitor launching these attacks. "I find that quite childish ," said CZ.

On social media, Star commented on the matter at the end of June, shortly after this excerpt of the conversation was published on X.

“CZ continues to deceive the public by claiming that I envy him. Envy what? The time he spent in prison as a convicted criminal? Or October 11th, when millions of cryptocurrency users were liquidated and billions of dollars were destroyed, pushing the entire industry into a crypto winter? Or his tolerance of compliance violations and firing members of his own compliance team because they investigated accounts identified as internal? I don't envy him. I'm ashamed of him.” 

Exchange ratesand foreign currencies

 

Discussions between CZ and Star ended up on social media. Source: X.

The discussion reveals a strong rivalry between the two executives.

Returning to CZ's interview, the billionaire also talks about his investment in X, Artificial Intelligence, Strategy, Hyperliquid, and the MiCA regulation, which recently removed Binance from the European Union .