On August 27, CZ spoke at Bitcoin Asia 2026 in Hong Kong. His core points were threefold:
1. Bitcoin “will definitely become more important than gold.” Its current market value is about 10x behind. “In the next bull cycle, it may be able to catch up.” He also said that since major powers have already built a complete valuation, reserve, and trading system around gold, the shift won’t be completed overnight.
2. A $1 million level “doesn’t need 25 years—it will come faster.” But more important than price is real-world implementation—large-scale payments and becoming a pension reserve asset.
3. He advised countries, in addition to dollar reserves, to allocate the top five cryptocurrencies (excluding stablecoins) according to market capitalization. Using this method, Bitcoin typically makes up 50% or more; Ethereum is about 10%–20%; and the rest is allocated to other leading assets.
Almost on the same day, Grayscale Research released its latest observations (data as of August 24):
• 90-day correlation between BTC and the Nasdaq 100: it was above 60% at times over the past year, and is currently about 33%
• 90-day correlation between BTC and gold: near 0 at the beginning of the year, and now already above 50%
• U.S. federal debt (including intragovernmental holdings) surpassed $4 trillion in mid-August
The trend seems to be taking shape: Bitcoin is emerging from the “shadow of the Nasdaq,” moving closer to gold.
Is Bitcoin once again reasserting its “digital gold” role? Time will tell!
$BTC
1. Bitcoin “will definitely become more important than gold.” Its current market value is about 10x behind. “In the next bull cycle, it may be able to catch up.” He also said that since major powers have already built a complete valuation, reserve, and trading system around gold, the shift won’t be completed overnight.
2. A $1 million level “doesn’t need 25 years—it will come faster.” But more important than price is real-world implementation—large-scale payments and becoming a pension reserve asset.
3. He advised countries, in addition to dollar reserves, to allocate the top five cryptocurrencies (excluding stablecoins) according to market capitalization. Using this method, Bitcoin typically makes up 50% or more; Ethereum is about 10%–20%; and the rest is allocated to other leading assets.
Almost on the same day, Grayscale Research released its latest observations (data as of August 24):
• 90-day correlation between BTC and the Nasdaq 100: it was above 60% at times over the past year, and is currently about 33%
• 90-day correlation between BTC and gold: near 0 at the beginning of the year, and now already above 50%
• U.S. federal debt (including intragovernmental holdings) surpassed $4 trillion in mid-August
The trend seems to be taking shape: Bitcoin is emerging from the “shadow of the Nasdaq,” moving closer to gold.
Is Bitcoin once again reasserting its “digital gold” role? Time will tell!
$BTC