Summary
- Changpeng Zhao, or CZ, said cryptocurrency adoption remains below 1% and that the industry has substantial room for future growth.
- He said crypto and blockchain are infrastructure technologies and should not be viewed only through a short-term price lens.
- He said traditional finance, or TradFi, and crypto finance will be integrated into a single financial system.
Forecast Trend Report by Period
Binance founder Changpeng Zhao, known as CZ, said cryptocurrency adoption remains below 1%, suggesting the industry still has substantial room to expand.
BlockBeats reported on July 17 that Zhao said on a recent podcast many people still see crypto as a speculative investment and focus on when to exit the market. He said crypto and blockchain are infrastructure technologies at their core and should not be understood solely through the lens of short-term price moves.
Zhao said blockchain ranks alongside the internet and artificial intelligence as one of the three major infrastructure technologies he has experienced. Measured against total global wealth, crypto industry adoption is still below 1%, leaving significant room for future growth.
He also said the boundary between traditional finance, or TradFi, and crypto finance will gradually fade. Stock tokenization and the adoption of blockchain by banks and other financial institutions show the two systems are already converging.
Ultimately, traditional finance and crypto finance will be integrated into a single financial system, he added.
