Zhao Changpeng: Bitcoin's market value is expected to surpass gold in the next bull market

Solana has been leading all chains in terms of trading volume and number of transactions for two consecutive weeks, and maintains its lead over the Base chain.

The cryptocurrency exchange Bybit has launched a USDT settled forex perpetual contract, covering three currency pairs: EUR/USD, GBP/USD, and USD/JPY, supporting 24/7 trading and up to 100 times leverage. This contract has no expiration date, and profits and losses are settled in USDT. Traders track price trends and do not acquire currency ownership. This product has been included in Bybit's TradFi Perpetual product line, which currently covers over 200 assets including stocks, commodities, ETFs, and pre IPO companies.

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Binance founder Zhao Changpeng stated on Bitcoin Asia that Bitcoin is expected to surpass gold in market value in the next bull market, with a current market value gap of about 10 times. Ricardo Salinas Pliego estimates that if Bitcoin reaches the total market value of gold, the price would be approximately $1.86 million. If Bitcoin becomes a strategic reserve asset for various countries, its importance is expected to surpass that of gold, but it will take time for central banks and governments to switch to Bitcoin. According to Glassnode data, the 90 day correlation between Bitcoin and gold has increased from 0.21 in March to approximately 0.57, while its correlation with the Nasdaq 100 index has decreased from 0.57 to 0.22. Other estimates suggest that its correlation with gold is around 0.59, the highest level since 2020. (Source: Bitcoin.com News)