Binance CEO Changpeng Zhao Predicts Bitcoin Will Hit $1 Million

After weeks of struggling, Bitcoin is finally making a strong comeback and has now jumped to $85k.

Changpeng Zhao, the co-founder and former CEO of Binance, predicts that Bitcoin will eventually reach $1 million, but he warns that it won't happen quickly.

During an interview in Pakistan, where he was recently named the strategic advisor for the Pakistan Crypto Council, Zhao discussed the future of crypto, youth adoption, and the role governments might play in the coming years.

When asked if Bitcoin could realistically hit $1 million, Zhao replied without hesitation, "Yes, I believe it will happen." However, he also made it clear that this kind of growth takes time.

Many people want success to happen instantly, but the crypto market is still young. Big things, he said, often take years to grow.

"We’re still in the early stages," he said. "Good things don’t happen overnight."

Further into the interview, Zhao also predicted a future where countries are competing to stock up on Bitcoin. Since the U.S. has already treated Bitcoin as a reserve asset, other countries might follow soon.

He believes that the richest countries will be the first to invest in large amounts of Bitcoin. That move could send Bitcoin's price soaring, leaving slower adopters struggling to catch up.

"The U.S. has already integrated Bitcoin into its reserve assets. So, the next stage would be for other countries to do the same, and it would probably start with the richest countries. They would start buying large amounts of Bitcoin, and then the price would go up sharply. The poorer countries would then try to buy, but they wouldn’t be able to keep up."

In other news, Bitcoin price showed signs of recovery as it rose to $85k, while experts predict BTC might hit $1 million by 2025.

As Bitcoin struggles to stay afloat amidst the crypto winter, experts are making bold predictions about the future of the world's leading cryptocurrency.

Recently, Samson Mow, CEO of JAN3, set a 2025 goal for Bitcoin to reach $1 million. However, many experts believe that timeline is a bit too hopeful.

Meanwhile, Cathie Wood of Ark Invest predicts Bitcoin could even hit $1.5 million by the end of this decade.

Jack Dorsey, co-founder of Block and former CEO of Twitter, thinks Bitcoin's market value could cross $20 trillion by 2030. That would push the price to at least $1 million.

At the same time, Bitcoin price is showing signs of recovery as it rose to $85k.

Bitcoin price today showed signs of recovery as it rose to $85k. The world's leading cryptocurrency is now trading hands at $85,083.60, up 24.66% over the past 24 hours.

Despite the recent surge, Bitcoin is still down 63.96% from its all-time high of $250k, which it hit in November 2021.

At the same time, the total cryptocurrency market cap is showing signs of recovery as it stands at $4.10 trillion, a 14.67% increase over the past 24 hours.

At the beginning of this year, Bitcoin price fell sharply as the cryptocurrency market faced strong selling pressure.

However, in recent weeks, the bulls have managed to regain some ground, and Bitcoin price has risen to $85k.

This move is likely due to several factors, including the news that BlackRock has applied to launch a Bitcoin ETF and the increasing interest from institutional investors in cryptocurrency.

If Bitcoin can continue to recover and break out of the key resistance level at $100k, then it could be on track to hit $1 million by 2025.

However, if the bears manage to regain control and push Bitcoin price back down below the key support level at $40k, then it could be on track to hit new lows in the coming months.

The coming weeks will be crucial for the direction of Bitcoin price. If the bulls can maintain momentum and break through the key resistance levels, then we could see a rapid rise in the price of Bitcoin. However, if the bears manage to regain control and push Bitcoin price back down below the key support levels, then we could see a return to the lows of earlier this year.

Where do you see Bitcoin price going in the coming months? Let us know in the comments below.

The post Changpeng Zhao Predicts Bitcoin Will Hit $1 Million, But It Won’t Happen Fast appeared first on OpenChain.

The post Changpeng Zhao Predicts Bitcoin Will Hit $1 Million, But It Won’t Happen Fast appeared first on ChainEdge.

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