The highly anticipated Bitcoin MENA conference kicked off grandly on 12/11, with many industry heavyweights invited to participate. CZ, the founder of the well-known exchange Binance, also had a fireside chat at the MENA conference, sharing his views on the future of Bit, from national strategic reserves to global adoption, which was full of content.
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ToggleBit will have more diverse use cases in the next ten years, and its value will surpass gold
CZ stated that the value of Bit lies not only in its price, but also in its practicality. "In the future, Bit should not only be for investment purposes, but also as a currency itself." He believes that in the next 10 to 15 years, the use cases of Bit will become more diverse, and we may even see more countries using Bit as a strategic reserve, which will further drive up the price of Bit.
"Within ten years, the price of Bit may break through $1 million." Although CZ avoided giving an exact figure, he emphasized that the market potential of Bit is limitless, and its value may even surpass gold. He added: "The advantage of Bit lies in its transparency and the convenience of cross-border transactions, while gold is difficult to carry and not suitable as a transaction currency, but Bit completely solves these problems."
The US is leading the push for Bit reserves, and global reserve competition is heating up
Recently, the US's announcement of establishing a "Bit strategic reserve" has forced other countries to follow suit. CZ praised the US as being very smart, stating that the earlier a country takes action, the greater the returns, and he believes this is the most effective asset allocation method. As for which country will be the next to adopt Bit as a strategic reserve, CZ believes that smaller countries may act faster, and the reserve competition will only become more intense.
He believes that although some countries initially banned Bit, most countries are now turning around and starting to adopt it. "You may not like a country, but you cannot ignore the advantages of internet technology and blockchain technology," CZ said.
China may be quietly deploying Bit reserves
Regarding whether China will follow suit, CZ said that China's current policy is not transparent, but he does not rule out the possibility that the country is quietly deploying Bit reserves. He said that the Asian culture is accustomed to low-key wealth accumulation, and they may have already taken action, just not made it public yet. He also mentioned that Hong Kong may become a "sandbox" for China to experiment with Bit policies, but the current attitude towards cryptocurrency regulation is still conservative.
Bit mining may be the secret to national-level wealth
CZ believes that for countries with sufficient energy, mining is the best way to convert energy into storable value. He gave the example of Bhutan, which started mining Bit a decade ago using its abundant hydropower resources and has now accumulated a considerable Bit reserve. He also emphasized that mining requires large-scale operations, and some countries have already started to enter the Bit field through mining.
In the future, everyone will have Bit
Regarding whether Bit will become a globally unified asset, CZ is optimistic about it, believing that Bit has the potential to become a global reserve currency. He stated that it is the most decentralized and secure asset, and its adoption rate will only continue to rise. He also remains open to other innovations, but has not yet seen any technology that can challenge Bit's position.
As for how the global cryptocurrency field will develop next, CZ called for all countries to adopt clear and transparent regulatory frameworks, while also investing in Bit and related technologies. He believes this will help economic growth and innovation competition. "The future of Bit is limitless, and we are at the beginning of history," CZ said optimistically.
(The rise of digital gold, can Bit replace gold as a national reserve or de-dollarization tool?)
