Binance founder and former CEO Changpeng “CZ” Zhao has doubled down on his ultra-bullish outlook for bitcoin (BTC) and the broader crypto market.
In a new interview with Farokh Radio, Zhao predicted that BTC could surge to between $500,000 and $1 million during this bull market cycle. He also projected that total crypto market capitalization could hit $5 trillion by the end of 2025.
Notably, the global crypto market cap has surpassed $3 trillion at the time of writing, with BTC accounting for $1.89 trillion. While Zhao didn’t offer a precise timeline for bitcoin’s potential six-or seven-figure price point, this isn’t his first bold forecast.
In February 2025, he alluded to a $1 million BTC price in a hypothetical headline on X. “Waiting for the new headline: Bitcoin “crashes” from $1,001,000 to $985,000,” he wrote. This continued his pattern of speculative projections that started as early as 2020. In December 2020, he projected BTC to hit $101,000.
Interestingly, his $101,000 price target came true when BTC broke that level in December 2024. Following bitcoin’s impressive performance and potential, several public companies continue to accumulate BTC, growing their holdings by 16% in Q1 2025.
Particularly, Japanese asset manager Metaplanet has revealed plans to accumulate 10,000 BTC in 2025.
At the time of writing, BTC is trading around $96,000, with its all-time high of $108,786 reached on January 20, 2025.
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CZ Weighs in on Memecoins, Prison Time and Crypto Market Trends
In the wide-ranging conversation, Zhao didn’t just focus on crypto asset prices. He cautioned that most memecoins (99.99% by his estimate) are likely to fail, and warned that they often distract from meaningful innovation in the space.
Instead, the Binance founder highlighted two emerging sectors as the future of crypto: artificial intelligence (AI) and decentralized science (DeSci).
“AI will marry blockchain,” he said, predicting closer integration between the two technologies. He also sees crypto playing a crucial role in funding scientific discovery worldwide through decentralized models.
Related: The Intersection of blockchain and AI
On crypto trading infrastructure, Zhao reiterated his belief that decentralized exchanges (DEXs) will eventually surpass centralized exchanges (CEXs) in size and influence.
However, he rejected the idea of competition between the two, calling them complementary gateways to the blockchain ecosystem.
Commenting on his four-month prison time last year, Zhao described it as a transformative period. The experience, he said, changed his priorities and put family and health at the forefront.
Moreover, he stated that he has no plans to return as Binance CEO. “That chapter is closed,” Zhao confirmed, adding that he now prefers to mentor new founders rather than lead projects himself.
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Shift in U.S. Crypto Policy and the Rise of DEXs
Zhao praised the current U.S. administration under President Donald Trump for its pro-crypto shift. “The U.S. is now like 180 degrees from where it was 100 days ago,” he noted, referencing the fast-moving regulatory changes.
Recall that Trump replaced former U.S. Securities and Exchange Commission (SEC) chairman Gary Gensler with a pro-crypto regulator Paul Atkins upon resumption of office.
He further signed an executive order to establish a U.S. strategic crypto reserve and digital asset stockpile, confirming that the strategic crypto reserve would constitute BTC, Ethereum (ETH), Cardano (ADA), and XRP. Additionally, in April 2024, the U.S. House Committee passed the STABLE Act bill to advance stablecoin regulation.
