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Binance co-founder makes bold Bitcoin prediction
Binance co-founder and ex-CEO Changpeng “CZ” Zhao has once again expressed his long-term bullish outlook for Bitcoin (BTC), predicting that it will eventually surpass gold's valuation.
On Oct. 20, Zhao wrote on X, “Prediction: Bitcoin will flip gold. I don’t know exactly when. Might take some time, but it will happen. Save the tweet.”
On one hand, gold’s total market value climbed to an unprecedented $30 trillion following a rally that pushed the metal to a new all-time high of $4,357 per ounce. On the other hand, Bitcoin's market cap was at $2.2 trillion as of Oct. 20, according to Kraken's data.
CZ's previous take on gold
On Sept. 23, Zhao took a lighthearted jab at gold, arguing that its usefulness is limited by its physical nature.
“Gold is great if you can carry it everywhere, through airports for example, you have all the right sizes to pay people with, you can verify its pureness when receiving it, and they don't dig more of it out of the ground...” he wrote on X.
More recently, Zhao aimed another remark at gold advocate and Bitcoin critic Peter Schiff. Schiff had claimed that “gold is eating Bitcoin’s lunch,” noting BTC was down 32% against gold since August and urging investors to “sell your fool’s gold now.”
Zhao fired back, writing: “Peter revenge.
We should have listened to him, two months ago, out of Bitcoin’s 16 years of existence. About 1% of the time. I’m sure Bitcoin fluctuated negatively against gold more than that — except BTC went from $0.004 to $110,000 in 16 years.”This article has been published in thestreet.com via Yahoo News.
Binance co-founder makes bold Bitcoin prediction
Binance co-founder and ex-CEO Changpeng “CZ” Zhao has once again expressed his long-term bullish outlook for Bitcoin (BTC), predicting that it will eventually surpass gold's valuation. On Oct. 20, Zhao wrote on X, “Prediction: Bitcoin will flip gold. I don’t know exactly when. Might take some...
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