Binance co-founder Changpeng “CZ” Zhao expects Bitcoin’s price to top at $500,000 to $1 million during this market cycle.
During an interview with Rug Radio published on May 5, Zhao said that he expects Bitcoin to reach up to one million dollars during this market cycle. He also highlighted the role of Bitcoin spot exchange-traded funds (ETFs) in this rise, saying that the increasing institutionalization of Bitcoin is a good thing for the market:
“There’s the ETFs. There’s this institutionalization of Bitcoin [ … ] it’s a positive in terms of price action, obviously. Our bags are up — not the alt‑coins as much, but at least Bitcoin is.”
Zhao explained that the ETFs are “bringing the traditional institution money into crypto” and “most of the money in the US is institutional money.” He said that “Bitcoin is going up because most of the ETFs are Bitcoin-based.”
Changpeng Zhao at