Bitcoin (BTC) Could Reach $1 Million During the Current Market Cycle, Says Changpeng Zhao “CZ”

Former Binance CEO Changpeng Zhao, widely known as CZ, expressed his belief that Bitcoin (BTC) could yet reach between $500,000 and $1 million during the current market cycle.

Speaking on the "Farokh Radio" YouTube channel in an episode published Monday, CZ discussed the state of crypto, his time in prison, and the evolving global attitude toward digital assets.

“Bitcoin at $500k to a million? Absolutely possible,” CZ told host Farokh. “I’m very optimistic about this cycle. We’ve entered a new phase. Institutions are here, governments are talking, and the macro environment is shifting.”

CZ’s forecast comes amid growing mainstream interest in cryptocurrency and the increasing integration of blockchain technologies into traditional financial systems. While he didn’t cite a specific date for his prediction, his confidence was clear.

“Cycles get stronger, and adoption accelerates. We’re not early anymore, but we’re still not late,” he said.

Notably, the conversation took place on the sidelines of the Token 2049 conference in Abu Dhabi, where CZ also discussed his recent legal issues and time in prison, which he described as a harrowing experience.

“Prison is no joke,” he said. “When I walked in, I was terrified. Tattoos, big guys, nobody cares who you are. It was humbling.”

Despite the ordeal, CZ said he gained a new perspective and even expressed a degree of empathy for other embattled crypto figures, including FTX founder Sam Bankman-Fried (SBF).

The interview also touched on the broader political landscape. CZ commented on former U.S. President Donald Trump’s apparent grasp of cryptocurrency, suggesting that pro-crypto leadership could significantly influence regulatory clarity and mainstream adoption.

“I think Trump gets it,” CZ said, clarifying that he has no involvement with Trump’s memecoin. Discussing the future of the crypto ecosystem, he reiterated his long-standing conviction in decentralization:

“Decentralized exchanges will surpass centralized exchanges over time. It’s inevitable,” he said. “We’re actively investing in projects that could disrupt our own business model.”

That said, CZ isn’t alone in his bold outlook for crypto. Speaking at the same event in Dubai, former BitMEX CEO Arthur Hayes reiterated his prediction that Bitcoin could reach $1 million by 2028. According to Hayes, a surge in U.S. dollar liquidity, likely a response to economic instability, will be the key driver.

Last month, ARK Invest, led by CEO Cathie Wood, also updated its long-term Bitcoin price forecasts, projecting that Bitcoin could reach $2.4 million by 2030, up from a previous estimate of $1.5 million. According to a report by the firm, this bullish outlook is driven by factors such as increased institutional adoption, Bitcoin’s role as a digital gold, and its growing use in emerging markets and corporate treasuries.

At press time, BTC was trading at $96,921, reflecting a 2.68% surge in the past 24 hours.