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Binance founder says a super cycle is coming, bringing optimism to the cryptocurrency market.
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CZ draws attention to how major U.S. banks are accumulating Bitcoin, which is bullish for the market.
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VanEck predicts that Bitcoin will rise to $2.9 million by 2025 as a base case scenario.
Binance founder Changpeng Zhao expressed optimism about the cryptocurrency market, saying that a super cycle is coming. His statement follows VanEck’s ultra-optimistic forecast for Bitcoin, which has a base target of $2.9 million for the flagship cryptocurrency.
The Binance founder said in an X post that a supercycle for BTC and the broader crypto market is coming. CZ’s announcement comes in response to news that the SEC will remove cryptocurrencies from its priority risk list in 2026, which is bullish for the market.
In an earlier X post, he also highlighted how Bank of America was accumulating Bitcoin amid panic selling by retail investors. Specifically, Wells Fargo revealed it purchased $383 million worth of Bitcoin ETF shares.
Institutional demand for the flagship cryptocurrency continues to rise, which may be one of the factors contributing to the anticipated super cycle in the cryptocurrency market. Notably, one of the largest U.S. banks, Morgan Stanley, filed for a Bitcoin ETF this week.
Experts such as Bloomberg analyst Eric Balchunas said the move may be due to the company seeing demand for BTC from its wealth clients. Morgan Stanley last year removed all restrictions on cryptocurrency investments, allowing all of its wealth clients to invest in Bitcoin.
At the same time, Bitcoin may also see greater adoption among nation-states, which may also aid in the projected crypto market supercycle. According to CoinGape, Cathie Wood of Ark Invest believes that the United States may start purchasing BTC as a strategic reserve this year.
Cryptocurrency ETF issuer VanEck predicts that BTC could reach $2.9 million by 2025. A report from VanEck’s Matthew Sigel and Patrick Bush outlines this as the base case for the flagship cryptocurrency.
The pessimistic scenario is that the price of Bitcoin may stagnate at around $130,000 by 2025, while the optimistic scenario is that Bitcoin may reach $53.4 million. VanEck explained that in a “hyper-Bitcoinization” scenario where BTC accounts for 20% of international trade and 10% of domestic GDP, the implied value of each Bitcoin could reach $53.4 million, equivalent to a compound annual growth rate (CAGR) of 29%.
The company noted that this scenario requires Bitcoin to reach parity with or surpass gold as a major global reserve asset, which accounts for nearly 30% of global financial assets. However, it remains to be seen whether this will happen as gold prices continue to soar and Bitcoin stalls.