Bitcoin Could Reach $1 Million as Crypto Enters ‘Super Cycle’ by 2026, Says Changpeng Zhao

Cryptocurrency markets may be heading into a prolonged growth phase that breaks away from Bitcoin’s traditional four-year boom-and-bust cycle, according to Changpeng Zhao, the founder of Binance.

Speaking in an interview with CNBC on the sidelines of the World Economic Forum in Davos, Zhao said a global shift toward clearer crypto regulation and rising institutional participation could set the stage for what he described as a potential “super cycle” by 2026.

“The main thing is regulation,” Zhao said, adding that governments are now more focused on creating workable frameworks for cryptocurrencies, stablecoins and tokenized assets.

Bitcoin has historically followed a four-year cycle linked to its halving events, but Zhao said that pattern may no longer hold as crypto becomes more integrated into mainstream finance.

Institutions Changing the Market Structure

Zhao said institutional investors are playing a much larger role than in previous cycles, providing steadier inflows rather than short-term speculative demand.

He reiterated his long-term view that Bitcoin could eventually reach $1 million, though he did not give a timeline and stressed that such projections depend on adoption continuing to expand.

“Demand keeps increasing, while supply remains fixed,” he said, referring to Bitcoin’s capped issuance.

From Binance Exit to Advisory Role

Zhao stepped down as Binance’s chief executive in 2023 after pleading guilty to charges related to failures in anti-money laundering controls. He later served a prison sentence and said he was pardoned by U.S. President Donald Trump in October.

Reflecting on that period, Zhao said the pardon brought a sense of relief and allowed him to refocus on longer-term projects.

He said he is now spending time advising governments on crypto regulation, working on an education initiative called Giggle Academy, and mentoring founders within the BNB Chain ecosystem. He remains a minority investor in several crypto-related ventures but is no longer involved in Binance’s daily operations.

Pro-Crypto Policy Environment

Zhao dismissed speculation about political ties between Binance and the Trump family, saying any perceived overlap stems from the U.S. administration’s pro-crypto stance rather than direct connections.

“A pro-crypto administration helps the entire industry,” he said. “That’s good for crypto and good for the economy.”

Looking Ahead

Zhao said the coming years could mark a turning point for the digital asset sector, as regulation reduces uncertainty and institutional capital brings greater stability.

“If this continues,” he said, “the next cycle won’t look like the last one.”