United

Bitcoin

<ul>
 <li>Changpeng Zhao suggests nations should establish Bitcoin strategic reserves, emphasizing its inevitability as a hard asset.</li>
 <li>He predicts broader Bitcoin adoption reaching 50–70% within the next decade, with full integration requiring generational change.</li>
</ul>
Changpeng Zhao, the former CEO of Binance, shared his insights on <a href="https://www.ethnews.com/transforming-gold-into-bitcoin-adam-back-advises-el-salvador-on-a-bold-economic-strategy/" rel="noopener noreferrer nofollow">Bitcoin</a>’s evolving role in global finance during the Bitcoin MENA Conference in Abu Dhabi. Speaking on the potential of Bitcoin, Zhao highlighted its transformative nature, urging nations to consider strategic Bitcoin reserves.
Zhao’s discussion was spurred by the recent milestone of Bitcoin surpassing the $100,000 mark.
When asked about this achievement and the future of <a href="https://www.ethnews.com/vancouvers-bold-move-to-battle-inflation-with-bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a>, he asserted,
<blockquote>
 “We shouldn’t call it Bitcoin anymore; we should simply call it money.”
</blockquote>
This declaration underscores his belief in Bitcoin as the foundation of future financial systems.
He argued that while <a href="https://www.ethnews.com/microsoft-turns-its-back-on-bitcoin-shareholders-reject-bold-crypto-proposal/" rel="noopener noreferrer nofollow">Bitcoin</a> is predominantly viewed as an investment asset today, its real potential lies in everyday applications.
Over the next 10 to 15 years, Zhao envisions Bitcoin being used as a functional tool, driving a fundamental shift in its perception from speculative asset to indispensable financial infrastructure.
<h2 id="national-bitcoin-reserves-a-strategic-imperative">National Bitcoin Reserves: A Strategic Imperative</h2>
Zhao also addressed the growing trend of nations accumulating <a href="https://www.ethnews.com/adam-back-suggests-el-salvador-should-convert-mined-gold-into-bitcoin-enhancing-its-financial-strategy-and-security/" rel="noopener noreferrer nofollow">Bitcoin</a> as part of their reserves. He highlighted how this movement could dramatically influence Bitcoin’s price trajectory and its integration into financial systems.
When asked about the United States potentially establishing a Bitcoin-based strategic reserve, Zhao remarked,
<blockquote>
 “If the U.S. adopts such a strategy, other nations will inevitably follow suit.”
</blockquote>
According to Zhao, countries that already support cryptocurrencies, especially smaller sovereign territories, are poised to lead this initiative. He noted that while democratic systems might deliberate extensively on such decisions, authoritarian governments like <a href="https://www.ethnews.com/chinas-strategic-shift-amid-global-stakes/" rel="noopener noreferrer nofollow">China</a> could act swiftly and discreetly.
He speculated that certain Chinese departments might already be accumulating Bitcoin covertly, emphasizing that <a href="https://www.ethnews.com/how-europes-automotive-and-luxury-giants-face-chinas-economic-crisis/" rel="noopener noreferrer nofollow">China</a>’s centralized leadership enables rapid, decisive action in contrast to democratic processes.
<h2 id="bitcoin-adoption-a-generational-transition">Bitcoin Adoption: A Generational Transition</h2>
When forecasting <a href="https://www.ethnews.com/michael-saylor-urges-u-s-gold-sell-off-for-bitcoin-backed-by-prominent-wall-street-execs/" rel="noopener noreferrer nofollow">Bitcoin</a>’s adoption, Zhao expressed confidence in its growing acceptance. He estimated that within a decade, 50–70% of the global population could actively use Bitcoin.
However, achieving full adoption might take up to 30 years due to generational barriers.
<blockquote>
 “For instance, my mother struggles with mobile phones. Generational change will be essential for complete adoption,”
</blockquote>
Zhao explained.
Meanwhile, regulatory developments in the United States indicate a proactive stance toward the cryptocurrency sector. The recent appointment of David Sacks, a former PayPal executive, as the White House’s “Crypto Czar” demonstrates a clear intent to foster innovation and establish a regulatory framework.
This initiative could significantly impact the global cryptocurrency landscape, setting the stage for broader institutional and governmental integration.
<div class="cryptoboxes" id="mcw-12344" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-chartcoin="BTC" data-chartcurrency="USD" data-chartrate="1.000268" data-charttype="chart" data-chartview="day" data-charttheme="light" data-chartsmooth="true" data-chartareacolor="" data-chartbgcolor=""></div>
</div>
The post <a href="https://www.ethnews.com/changpeng-zhao-advocates-for-bitcoin-strategic-reserves-and-predicts-mass-adoption/" rel="noopener noreferrer nofollow">Changpeng Zhao Advocates for Bitcoin Strategic Reserves and Predicts Mass Adoption</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.

Changpeng Zhao Advocates for Bitcoin Strategic Reserves and Predicts Mass Adoption

Table of Contents

ETHNews

Other articles published on Dec 11, 2024

Ethereum has less than 10% chance of tapping $5K by year-end, says Derive

From Steps to Rewards: How Runwago Changes the Game

Spike in Crypto Scams on X Sparks Urgent Warnings as Victims Suffer Multi-Million Losses

Bybit P2P Expands Merchant Benefits in Africa (12 Dec)

Koma Inu Named as First Recipient of DWF Labs $20 Million Meme Fund

Data Shows Low Odds for Ethereum Reaching $5000 by Year-End

Join our free newsletter for daily crypto updates!