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).

CFDs on Gold (US$ / OZ) versus Bitcoin daily (1D) charts | Source: TradingView