Binance co-founder Changpeng 'CZ' Zhao says bitcoin could surpass gold in next bull market

Binance co-founder Changpeng "CZ" Zhao told attendees at the Bitcoin Asia 2026 conference in Hong Kong on Thursday that bitcoin (BTC) could overtake gold in market value in the next bull cycle.

Zhao said gold’s market capitalization is still about 10 times larger than bitcoin’s. He argued that closing that gap would be part of a broader shift in how investors view reserve assets, rather than simply a matter of price.

"Major countries have built complete valuation, reserve, and trading systems around gold, so a shift to bitcoin will not happen overnight," Zhao said, adding that sovereign reserve allocations will eventually tilt toward digital assets, with bitcoin representing over 50% of strategic crypto holdings alongside assets like Ethereum (ETH) and BNB.

His comments come after a sharp rebound in bitcoin. BTC gained more than 25% last week, while gold climbed above $4,600. On Thursday, the benchmark cryptocurrency traded around $79,700, up 1.5% over 24 hours, according to The Block’s BTC price page.

AI and crypto

Zhao also addressed the convergence of artificial intelligence and crypto, saying the integration will likely begin with stablecoins.

“I think it will probably start with stablecoins,” Zhao said. “Once you can accept stablecoins, adding bitcoin will be very easy.”

According to the co-founder, AI-assisted trading will develop before AI-driven payments. He explained that trading requires rapid analysis and execution, while consumers can already complete many payments themselves with conventional cards.

“You need to gather massive amounts of information very quickly, react rapidly to news, and analyze charts,” Zhao said. “No matter how you trade, AI can likely increase efficiency tenfold.”