Quick overview

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Changpeng “CZ” Zhao, Binance co-founder, reaffirmed his long-held conviction that Bitcoin will surpass gold as the world’s most valuable asset.

This prediction has sparked new debates in the cryptocurrency community about the potential implications of this change for other digital assets, such as XRP. In the midst of global market uncertainty, gold has continued to rise and set new records, while Bitcoin has recently been under selling pressure and dropped below several important support levels.

The price of gold surged to an all-time high of $4,381 an ounce over the course of the last week, pushing its market capitalization above $30 trillion, the highest of any asset class.

CZ recently stated that he is confident Bitcoin will outperform gold in terms of value, but he acknowledged that the exact time frame is still unknown

The market capitalization of gold is $30.3 trillion, while that of Bitcoin is $2.14 trillion. This indicates that for Bitcoin to equal gold, it would need to grow by about 1,315 percent. A price increase of this magnitude would put Bitcoin close to $1.52 million per coin, given its current supply of roughly 19.93 million BTC.

CZ insists that it is attainable given the increasing global acceptance of digital assets. Additionally, he highlighted that macroeconomic factors and market cycles may affect how soon this milestone is attained. Analysts concur that if Bitcoin were valued at $30 trillion, it would probably lead to a significant expansion.