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Chinese-Canadian CEO of Binance Changpeng Zhao has shown optimism in the future of Bitcoin despite the recent pullback that took BTC price below $10,000.
In a show of faith, the entrepreneur postulated that Bitcoin will be worth $1,000,000, but he did not reveal how soon the magic would happen.
Making his series of crypto and Bitcoin predictions for the 2020 decade on the Altcoin Daily YouTube channel, CZ, spoke lengthily on different crypto aspects.
During the close to an hour drilling, CZ claimed that after a long bear market, things are beginning to be exciting for the crypto world.
Bitcoin has a tool that gives people protection over their money during this financial crisis. CZ said more people are knowing and learning about cryptocurrency, however, a lot of people still do not know about cryptocurrency. Bitcoin and other cryptocurrencies will be a safe haven, CZ added.
The crypto billionaire highlighted that the stock market still affects the crypto space since lots of those who have an enormous portfolio in the stock market still have cryptos, and when stock goes down, they sell crypto.
However, CZ said, in the next two to ten years, the crypto industry would have had another tremendous growth.
Binance CEO Loves Bitcoin, Ethereum, Binance Coin
The CEO who got into Bitcoin in 2013, said he won’t be able to comment on any cryptocurrency but loves Bitcoin and Binance Coin (BNB).
He said he does not invest in any coin himself, but Binance holds a collection of any coin the exchange supports.
“So, I don’t really have a strong private preference (for cryptocurrencies), they change all over time. I do support the sort of top coins a bit more; I support Ethereum strongly as well.”
He said his reason for supporting Ethereum, is that the network supports a lot of innovation in the space with the smart contracts, furthering that, he also give supports to some Ethereum copycats like Binance Chain, even though the code was forked from Cosmos, but lots of ideas used in the coin came from Ethereum. He said generally, he’s not against any digital coin.
Asked what ideology he possesses, Changpeng said he has a lot of friends who are libertarians and can understand their views, however, he is not that extreme. In his view, he desires a balanced view of everything, even though he agrees with lots of Libertarian views.
“I am not like anarchists, I am not against governments, I am not against anybody.”
“I don’t have that kind of a strong libertarian view but I do agree with a lot of their principles,” he mentioned.
On Bitcoin Dominance
CZ said Bitcoin dominance will decrease over time even if it increases in a short time. He said there are lots of limitations in the Bitcoin ecosystem. However, Bitcoin is not going to disappear, but some ideas will overtake it in the space.
CZ’s Bitcoin Price Prediction: Will Bitcoin Touch $1,000,000?
Asked whether Bitcoin will reach $1,000,000, the founder of Binance Exchange said he believes BTC price will touch $1,000,000 someday, however, he did not state how soon it will be.
Furthering, CZ said Bitcoin is the most decentralized technology since the founder cannot be identified.
CZ mentioned as an example that if something happens to the founder of Ethereum today, the price of ETH will drop.
He said after Bitcoin, Dogecoin is second most decentralized technology, because the founders have backed out of the project.
Speaking on Decentralized Finance (DeFi), CZ believes the innovation will lead the next cryptocurrency Bull Run, mentioning that Bitcoin’s lowest will be $3,200.