Binance founder CZ predicts Bitcoin could hit between $500,000 and $1 million in this cycle, citing institutional phase and structural forces.
CZ highlighted three key drivers: spot ETFs bringing in institutional money, US political shift towards being pro-crypto, and negative examples pushing capital towards Bitcoin.
He emphasized the impact of US spot exchange-traded funds and regulatory clarity on institutions allocating Bitcoin in their treasuries.
Despite concerns about institutionalization affecting decentralization, CZ believes Bitcoin's design is resilient and can absorb adversarial actors.