Binance Founder Bets on Bitcoin at One Million Dollars: "It’s Totally Possible"

• CZ estimates that two additional bull cycles could take bitcoin from $600,000 to $1 million.
• He claims that less than 1% of global wealth is currently exposed to bitcoin.

Changpeng Zhao (CZ), founder of Binance, outlined a scenario in which bitcoin (BTC) could reach $1 million by the market cycle of 2033. In an interview with The Block published on July 7, 2026, he explained that his calculation is based on the idea that bitcoin has not yet reached a saturation point in terms of global adoption.

CZ's thesis is based on the partial repetition of behavior observed in previous cycles. The entrepreneur believes that after a bearish year like 2025, bitcoin could undergo a new bull cycle in 2029 and another in 2033. In that scenario, a fivefold increase in the next cycle would bring the price to approximately $600,000, while an additional twofold growth in the following cycle would be sufficient to reach the $1 million mark.

"If the next cycle goes up five times, then it would be around $600,000. And the cycle after that only needs to double to reach a million. It’s totally possible," CZ stated. However, the Binance founder insisted that he is not claiming it will happen.

CZ believes that the growth potential remains open due to the current level of adoption. According to his statements, people who own bitcoin likely represent less than 1% of global wealth, indicating that there is still ample room for greater participation from investors, companies, and institutions.

The entrepreneur also described the last bitcoin cycle as unusually weak. He explained that the asset only achieved an approximate twofold increase, far below the historical multipliers observed in previous stages. He attributed this performance to external factors such as geopolitical conflicts, elections, and competition for speculative capital with companies linked to the artificial intelligence sector.

"We were affected by the war and the elections. It was a weak cycle in which bitcoin only rose two times," CZ noted, adding that the lack of market saturation remains an argument in favor of future expansion.

In addition to price, CZ also referred to the role of other networks within the ecosystem. While he maintains a favorable view of bitcoin, he rejected a maximalist stance and stated that the existence of multiple distributed networks can foster innovation. He explained, "Having 10, 20, or 30 cryptocurrency networks, or even a few hundred that are innovating, is probably a good thing," although he considered that an excessive number of networks could lead to fragmentation.

The possibility of bitcoin reaching $1 million faces criticism due to the difficulty of maintaining the same growth multipliers as its market capitalization increases. Some analysts argue that cycles with increases of 3x to 5x may become less frequent in a larger asset with greater institutional participation, where each new growth phase requires significantly more capital inflow.

For now, the discussion reflects a broader question about the next stage of the market: whether the asset is still in an early phase of global adoption or if its growth cycles will begin to lose strength. The key point for the coming years will not only be whether bitcoin reaches certain figures but whether it can transform institutional and state demand into a permanent base of users and capital. If that transition occurs, the major price targets would cease to depend solely on speculative cycles and would become linked to greater integration of bitcoin within the global financial system.