Binance founder CZ says bitcoin could hit $500,000 to $1 million this cycle

Bitcoin and the broader crypto market are headed for a sharp uptrend, according to Binance founder and former CEO Changpeng “CZ” Zhao.

Bitcoin could climb to anywhere between $500,000 and $1 million this cycle, and the total crypto market capitalization could touch $5 trillion by the end of this year, Zhao said in an interview with Farokh Radio published Monday. He didn’t offer a specific timeline for the cycle.

This isn’t the first time Zhao has floated a seven-figure bitcoin target. In February of this year, he hinted at the $1 million mark in a post on X, imagining a future headline about bitcoin that could read it “crashes” from $1,001,000 to $985,000.

Zhao had similarly hinted at a $100,000 bitcoin price prediction back in 2020, referencing a hypothetical drop from $101,000 to $85,000. That prediction eventually played out — bitcoin crossed $100,000 for the first time in December 2024.

Bitcoin is currently trading at around $93,900, according to The Block’s bitcoin price page. Its all-time high was $108,786, reached on January 20, 2025. Meanwhile, the current total crypto market capitalization stands at about $3 trillion, according to CoinGecko.

Beyond price predictions

Beyond price targets, Zhao also shared broader thoughts on the crypto space in the interview. He pointed to memecoins as a current source of froth, saying 99.99% of them will fail and that they distract from real innovation. He highlighted artificial intelligence (AI) and decentralized science (DeSci) as two areas with real long-term potential. “AI will marry blockchain,” he said, predicting tighter integration between the two technologies. On DeSci, he said crypto will play a key role in funding and incentivizing scientific innovation globally.

Zhao also praised the pro-crypto stance of the current U.S. administration under President Donald Trump, noting how quickly the regulatory environment has shifted. “The U.S. is now like 180 degrees from where it was 100 days ago,” he said.

On the future of trading infrastructure, Zhao reiterated that he sees decentralized exchanges eventually becoming bigger than centralized ones. But he pushed back against framing CEXs and DEXs as opposites — calling them just different doors to the same blockchain-based world. While centralized platforms offer simpler onboarding, he said the long-term shift will favor DEXs, and noted that he’s actively backing multiple decentralized projects.

Reflecting on his four-month prison sentence last year, Zhao said the experience reshaped his priorities, placing health and family above all else. He described it as mentally taxing, particularly because of the uncertainty around whether his sentence might be extended. Overall, he called it a difficult experience — one he wouldn’t wish on anyone.

As for what’s next, Zhao said he has no plans to return as Binance CEO, calling that chapter closed. While he said he “would love to have a pardon,” his focus now is mentoring new founders. “I don’t foresee myself leading another project,” he said, describing his new role as that of a mentor, coach and helper.

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