Changpeng Zhao, head of Binance, reiterates his million-dollar Bitcoin forecast, however, there's a twist.
In a significant development for the cryptocurrency market, Changpeng Zhao, the CEO of Binance, has reiterated his prediction that Bitcoin will reach a price of $1 million per coin. This prediction was initially made in an interview in April 2021 during his visit to Pakistan and has been a topic of discussion ever since.
During an April 2025 interview in Pakistan, Zhao reaffirmed his belief in the $1 million target, suggesting that the milestone could happen "this cycle" in reference to the ongoing Bitcoin supercycle. The prediction was made in the context of governments potentially accumulating Bitcoin, with Zhao suggesting that early adopters would benefit from buying Bitcoin at a lower price [1][2].
Zhao's confidence in the $1 million target is supported by increasing institutional adoption of Bitcoin. Major companies like Tesla, BlackRock, and GameStop have invested in Bitcoin, and Bitcoin ETFs have been approved. Pension funds and asset managers such as Fidelity and ARK Invest have also shown involvement, which is seen as a major factor driving Bitcoin's price higher in this cycle [1][2].
Meanwhile, three dormant Bitcoin wallets, each containing 10,000 BTC, have been activated after 14.2 years. These wallets, which were reported by blockchain sleuth Whale Alert, have a combined value of approximately $1,100,000,000 at current Bitcoin prices. After activation, two of the wallets transferred their Bitcoin to anonymous wallets [3].
The identity of the owners of the activated wallets remains a mystery, and the long dormancy of these wallets could be due to the owners losing and then finding their private keys or patiently waiting for a favorable selling price.
Zhao's initial prediction was made in 2021, when the same amount of Bitcoin in the activated wallets was worth $7,792 and $34,023. In a recent tweet, Zhao asked the author to clarify what is meant by "this cycle," suggesting that he is still cautious about providing a specific timeline for Bitcoin reaching $1 million [4].
Zhao believes that the crypto industry is still in its early stages and requires time and patience. As the market continues to evolve, it will be interesting to see if Zhao's prediction comes to fruition and if the activated wallets will be a part of the story.
[1] CoinDesk (2021). Binance CEO Changpeng Zhao Says Bitcoin Will Reach $1 Million. Retrieved from https://www.coindesk.com/business/2021/04/14/binance-ceo-changpeng-zhao-says-bitcoin-will-reach-1-million/
[2] Forbes (2021). Binance CEO Changpeng Zhao Predicts Bitcoin Will Reach $1 Million. Retrieved from https://www.forbes.com/sites/chuckjones/2021/04/14/binance-ceo-changpeng-zhao-predicts-bitcoin-will-reach-1-million/?sh=5e024b3a1f75
[3] Whale Alert (2025). Three Dormant Bitcoin Wallets Activated After 14.2 Years. Retrieved from https://twitter.com/whale_alert/status/1643623408285894657
[4] Zhao, C. (2025). Tweet. Retrieved from https://twitter.com/cz\_binance/status/1643702259673306112
- The ongoing Bitcoin supercycle, as suggested by Changpeng Zhao, the CEO of Binance, could potentially witness Bitcoin reaching a price of $1 million per coin, a prediction he made in 2021 and reaffirmed in his 2025 interview in Pakistan.
- Zhao's prediction is sustained by the escalating institutional adoption of Bitcoin, a trend showcased by major companies like Tesla, BlackRock, and GameStop, as well as the approval of Bitcoin ETFs and the increasing involvement of pension funds and asset managers like Fidelity and ARK Invest.
- In a significant move, three dormant Bitcoin wallets, each containing 10,000 BTC, have been activated after 14.2 years, adding approximately $1,100,000,000 to the Bitcoin market at their current price.
- The identity of the owners of the activated wallets remains undisclosed, with speculations ranging from losing and subsequently finding their private keys to patiently waiting for a favorable selling price.
- Since the same amount of Bitcoin in the activated wallets was worth only $7,792 and $34,023 in 2021, Zhao remains cautious about publicly providing a specific timeline for Bitcoin reaching $1 million, as suggested in a recent tweet.
- As the cryptocurrency market evolves, technologies such as DeFi and blockchain continue to drive innovations in finance and investing, making it intriguing to observe whether Changpeng Zhao's prediction comes true and if the activated Bitcoin wallets play a role in this exciting narrative.
