Binance Founder CZ says Bitcoin Could Reach Between $500K to $1M this Market Cycle

In an exclusive interview on May 5, 2025, with Farokh radio, Changpeng Zhao, popularly known as CZ, stated that he expects the Bitcoin price to reach an all-time high (ATH) between $500,000 and $1 million this current market cycle.

Zhao added that he expects the total crypto market cap to reach $5 trillion this year.

The Binance founder and former CEO emphasized the role of Bitcoin spot exchange-traded funds (ETFs) in this rise, stating that the Institutional adoption of Bitcoin, like MicroStrategy, Metaplanet and co, is a good indicator for the next Bitcoin ATH.

Also, CZ added that the growing government accumulation and a pro-crypto US policy are all the forces that will propel the Bitcoin price to the next level.

“There’s the ETFs. There’s this institutionalization of Bitcoin… it’s a positive in terms of price action, obviously. Our bags are up  —  not the altcoins as much, but at least Bitcoin is.” CZ stated.

Furthermore, Zhao explained that Bitcoin prices are currently going up because most of the ETFs are Bitcoin-based. CZ added that as most of the money in the U.S. is institutional money, the ETFs are playing a big role in channelling the money into crypto.

Bitcoin’s price currently stands above $94,000.

Bitcoin Could Hit $1 Million by 2028: Arthur Hayes

Similarly, Arthur Hayes, the Co-founder of BitMEX and CIO of Maelstrom, said he is optimistic that the value of Bitcoin could potentially reach $1 million by the end of 2028.

According to Yahoo Finance, Hayes said that the price is achievable based on the expected easing of U.S. monetary policy and the growing acceptance of Bitcoin as a safe-haven asset. And added that Bitcoin performs best when money is printed.

Furthermore, the BitMEX Co-Founder added that the U.S. budget deficit, which Hayes opines will continue to rise even after the change of administration, is a bullish catalyst for Bitcoin’s potential rise to a price of $1 million.

“We know you’re going to print more money; we know that Bitcoin does best when money is printed… I can tell you where Bitcoin’s going to go,” Hayes said.

Previously, Arthur Hayes predicted Bitcoin could reach $250,000 by the end of 2025, citing the U.S. Federal Reserve’s shift to quantitative easing and increased investor confidence in alternative assets amid monetary expansion.

Institutional Interest in Bitcoin Increases

Institutional interest in Bitcoin is rapidly increasing, with spot Bitcoin ETFs seeing $4.5 billion in inflows from April 22 to May 2. Bitcoin futures open interest has increased to 669,090 BTC.

In April, corporate Bitcoin buying also surged, with Strategy currently acquiring an additional 15,355 Bitcoin (BTC) for approximately $1.42 billion.

The Strategy’s total Bitcoin holdings now stand at a staggering 553,555 BTC. The current buy was made between April 21 and April 27, at an average price of $92,737 per Bitcoin.

Additionally, Metaplanet and Semler Scientific are also increasing their Bitcoin reserves. Also, BlackRock recently added 5,613 BTC.