CZ on New BTC High: A “Small Fraction” of Future Price

Binance co-founder Changpeng Zhao (CZ) expects Bitcoin’s price to rise much higher than its current price. According to Zhao, Bitcoin’s current all-time high could be worth a fraction of the cryptocurrency in the future, just like what was an all-time high a few years ago has become relatively insignificant in the value of the pioneer crypto.

Zhao’s latest post on the social media platform X highlighted his own experience of buying Bitcoin in 2014 and holding it for three years before the price first reached the milestone of $1,000 in 2017. He noted that at the time, the entire crypto industry considered that a massive achievement for the digital asset.

According to TradingView’s data, Bitcoin traded for $122,156 at the time of writing, reflecting over 122 times its price at the referenced $1,000 all-time high in 2017. The cryptocurrency has experienced massive adoption over the past decade. More significantly, the digital asset’s adoption in the last one and a half years is worth noting.

The launch of several spot Bitcoin ETFs that followed the SEC’s approval of the same triggered the latest era of the Bitcoin bull run.

That event, which occurred shortly after Bitcoin’s recovery from the last bear market, signaled a massive turnaround in the cryptocurrency’s fortunes. It has attracted institutional investment into the cryptocurrency ecosystem and boosted Bitcoin’s demand.

In the meantime, Bitcoin has gained over 215% since the SEC’s spot ETF approvals in 2024, and analysts expect the digital asset’s adoption to increase. The latest rally saw BTC reach a new all-time high at $122,604 early Monday morning. However, renowned analysts like Zhao believe the pioneer cryptocurrency has more to offer. They predict that BTC will continue in the upward direction and head for new frontiers.