CZ Says Bitcoin (BTC) Can Overtake Gold Next Bull Cycle as Valuation Gap Narrows to 10x

CZ Sees Bitcoin Flipping Gold

Binance founder Changpeng Zhao — better known as CZ — says Bitcoin (BTC) could overtake gold's total market value as early as the next bull cycle. Speaking at the Bitcoin (BTC) Asia Summit, he argued the valuation gap between the two assets has compressed to roughly 10x, a margin he considers closable within a single upswing. The market is already drifting in that direction: Glassnode data puts BTC's 90-day correlation with gold at about 0.57, up from 0.21 in March, while its correlation with the Nasdaq 100 has fallen from 0.57 to 0.22; other estimates peg the gold linkage near 0.59, the highest since 2020. In short, the asset is behaving more like a monetary hedge than a high-beta tech trade. CZ framed sovereign bitcoin reserves as the decisive catalyst, noting that central banks already run mature systems for valuing, storing and managing gold, and rebuilding that machinery around crypto could take years — an inertia he called the real obstacle, not the asset itself. He rated the chance of a superior digital coin displacing Bitcoin first as “very low,” a conviction long shared by adherents of Bitcoin maximalism. Mexican billionaire Ricardo Salinas wrote on X that full parity would imply a price near $1.86 million per coin, adding “it's still early.”

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Macro Wall Meets the Charts

The near-term tape is less forgiving. Bitcoin (BTC) traded near $78,524 on Tuesday, down 0.72%, after opening at $79,090 and dipping to $77,603 — territory close to where we recently flagged Bitcoin market coverage around the $78K mark, as United Nations officials warned of AI existential risk. The overhang is macro: crude is pushing toward $100 a barrel on renewed U.S.-Iran hostilities in the Strait of Hormuz, the waterway that ships roughly a fifth of the world's oil, and energy-driven inflation hands the Federal Reserve little cover to ease. August payrolls printed 162,000 new jobs against a 53,000 forecast, leaving CME FedWatch pricing roughly a 57% chance of a quarter-point hike at the September 15-16 meeting — a hawkish tilt that historically lands hardest on leveraged risk assets. Equities digested the same pressure: the S&P 500 closed at 7,689.80, the Dow shed 614.88 points, or 1.15%, to 52,799.37, and HSBC still lifted its year-end S&P 500 target to 8,100. Beneath the noise, Bitcoin's trend structure is intact — the RSI cools at 60.4 from 66.1 a week ago, the ADX reads 47.2, well above the 25 trend threshold, and price holds above the $73,986-$75,569 demand band traders call the golden zone, with a golden cross of the EMA50 over the EMA200 still in play. Prediction markets on Myriad assign 78.4% odds to Bitcoin (BTC) tagging $84,000 before $55,000.

The $1.1 Million Case for 2033

The boldest figure of the session belongs to financial analyst Matthew Mezinskis. Appearing on the New Era Finance Podcast, he mapped a path to $1.1 million per Bitcoin by 2033 — a projection grounded in global M2 money supply rather than chart patterns. His premise: central banks have no realistic exit from monetary expansion, and the resulting inflationary pressure keeps steering capital toward assets whose supply cannot expand. The 21 million hard cap and the halving, the programmed event that cuts block rewards roughly every four years, form the supply side of that equation, while he argues retail and institutional adoption both remain in an embryonic stage despite this year's volatility. The call is an aggressive variant of the long-cycle framing readers can track on the Bitcoin Rainbow Chart, and it shares supply-side DNA with the narrative around the dormant Satoshi-era stash Galaxy Research tied to Bitcoin's creator. If Bitcoin keeps migrating toward monetary-hedge behavior, traditional portfolios would find the gold comparison harder to ignore — and parity math implies levels far above any prior cycle target. Where CZ frames the flip as one cycle away and Mezinskis prices out the 2030s, both theses rest on the same foundation: fixed scarcity meeting expanding money. Readers tracking the market in real time can follow live spot and futures prices on Gate.

Greed at 69 Keeps Bids In

COINOTAG's aggregate market data captures the tension cleanly: our Fear & Greed Index prints 69/100, solidly in Greed, with Bitcoin holding 68.0% of our tracked universe's $2.32 trillion market cap. The week belongs to the Fed; the theses above are pricing the decade.