12 0
Binance Founder CZ Predicts Bitcoin Will Surpass Gold’s Market Cap
Key Highlights:
- Changpeng Zhao (CZ), founder of Binance, predicts that Bitcoin will surpass gold in market capitalization.
- Gold's current market cap is $29.67 trillion, while Bitcoin stands at $2.21 trillion.
- For Bitcoin to exceed gold's market cap, its price would need to increase more than tenfold.
- This prediction has sparked mixed reactions, with some supporting and others skeptical of the claim.
Comparison: Gold vs. Bitcoin
- Gold possesses inherent physical properties valuable for jewelry, currency, art, and industrial uses.
- Bitcoin, as a digital asset, lacks physical form but is secured by cryptography on the blockchain.
- Despite volatility, Bitcoin is often regarded as "digital gold" due to its limited supply.
Current Market Dynamics:
- Gold has recently achieved consecutive all-time highs, trading at $4,348 per ounce.
- Bitcoin experienced a significant crash but remains a highly speculative asset, currently priced at $110,646.
- Crypto whales show increased interest in tokenized gold through stablecoin products like Tether's XAUt and Pax Gold (PAXG).
