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Leaning into the crystal ball of cryptocurrency's future, Changpeng Zhao, the man steering the ship at Binance, has offered his projections for Bitcoin's next significant surge. During an interactive Twitter session on July 5th, Zhao shared his take on the cryptocurrency giant's trajectory.
Digging into the history of Bitcoin, Zhao underscored the trend of bull runs occurring in four-year cycles. While he stopped short of making any certain forecasts, he mentioned the Bitcoin halving event scheduled for 2024 as a key signpost. Drawing on previous trends, Zhao pinpointed 2025 as a potential milestone year for Bitcoin's next significant rise.
Simultaneously, there was a flurry of questions around recent activities by BlackRock, a traditional finance powerhouse that has taken a recent interest in the Bitcoin ETF landscape. Rather than demonstrating concern over BlackRock's entry, Zhao offered a warm welcome, touting the benefits it could bring to the broader crypto sphere.
Since BlackRock's filing on June 15, a section of observers has expressed fears that its goals might undermine Bitcoin's founding principle of decentralization. Meanwhile, there's also a concern that BlackRock might infringe on Binance's market share.
Calmly brushing off these apprehensions, Zhao painted a picture of minimal overlap between the clientele of Binance and BlackRock. He further argued that the rising institutional interest and the upcoming Bitcoin halving event are driving Binance's strategy to brace for increased trading volumes in the next year and a half.
These remarks were made in the backdrop of BlackRock CEO Larry Fink's recent praises of Bitcoin. Fink hailed it as a globally recognized asset that could act as a buffer against inflation and fiat currency devaluation.
