Binance founder and former CEO Changpeng Zhao (CZ) has suggested that Bitcoin (BTC) could reach $1 million , citing increasing global accumulation by central banks . CZ shared a Financial Times report via X , which revealed that the Czech Central Bank governor is considering a $7 billion Bitcoin purchase . He added, “The race to accumulate as much Bitcoin as possible has begun.” When asked whether Bitcoin could realistically hit $1 million , CZ responded that it depends on how much other countries print money to buy Bitcoin , reinforcing the idea that nation-state adoption could drive BTC to unprecedented levels . Why Central Banks Are Buying Bitcoin With economic uncertainty and inflation concerns rising , central banks are exploring Bitcoin as a potential reserve asset . Key Reasons for Central Bank Bitcoin Accumulation: Hedge Against Inflation – Governments are seeking alternative stores of value as fiat currencies weaken. Diversification of Reserves – Some central banks are adding Bitcoin to diversify their holdings alongside gold and foreign currency reserves. Growing Institutional Legitimacy – Bitcoin ETFs and institutional adoption are making BTC a recognized financial asset . As more governments enter the Bitcoin market , demand could skyrocket, pushing prices to new all-time highs . How Bitcoin Could Reach $1 Million Increased Central Bank Adoption – If more governments buy BTC , it could drive massive price appreciation . Fiat Currency Devaluation – Countries printing money to buy Bitcoin could weaken their national currencies , leading to a Bitcoin supply squeeze . Sovereign Wealth Funds Entering Crypto – Large financial institutions could accelerate BTC’s mainstream adoption . While Bitcoin at $1M seems extreme , historical trends show that global accumulation can drive exponential price growth . Bitcoin’s Future: A Global Reserve Asset? Growing Recognition as “Digital Gold” – Bitcoin is being compared to gold as a safe-haven asset . Nation-State Competition for BTC – As central banks begin accumulating BTC , it may become a strategic reserve asset . Supply Shock Potential – With only 21 million BTC available , increased accumulation could lead to a major supply crisis . If more central banks follow the Czech Republic’s lead , Bitcoin’s scarcity could push its price toward CZ’s bold prediction . FAQs What did Binance founder CZ say about Bitcoin? CZ stated that Bitcoin could reach $1M if central banks and governments continue buying BTC in large amounts. Why are central banks interested in Bitcoin? They see BTC as a hedge against inflation and a reserve diversification asset , similar to gold . Could Bitcoin really hit $1M? It’s possible if major global institutions and sovereign wealth funds aggressively accumulate BTC , creating a supply crisis . Which country is currently considering a Bitcoin purchase? The Czech Central Bank governor is reportedly looking into a $7 billion Bitcoin purchase , according to the Financial Times . What would drive Bitcoin to $1M? Massive central bank accumulation Global fiat currency devaluation Supply shortage due to Bitcoin’s 21M cap Conclusion Binance founder CZ’s bold prediction that Bitcoin could reach $1 million highlights the growing institutional and government demand for BTC . With central banks considering Bitcoin as a strategic reserve asset , the race to accumulate BTC may drive its price to levels never seen before . As nation-state Bitcoin adoption accelerates , the $1M BTC scenario becomes more plausible , especially in an inflationary global economy . To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news , where we delve into the most promising ventures and their potential to disrupt traditional industries.
