Live on Bloomberg TV

00:00The bullish news seemed to keep coming for Bitcoin especially with this new ETF. Are you concerned at all that there might be some speculative froth in all of the latest movements or is this just a reflection of the how mainstream Bitcoin is becoming. I definitely thinks that this is just a reflection of how mainstream Bitcoin has become. And I think we're just seeing the tip of the iceberg. To be honest I think 50 k things are just starting. So this is just starting where does it end because of course with the rally last time around and that didn't last too long and though and what happened wasn't really pretty. Sure. I think basically if you look at the last rally you rallied from the previous peak of four thousand US dollars in 2013 and you wrap your rally through 2015 2016 and 2017 to twenty thousand. And then we had a we had a we had a retracement with a three year bear market. And then now we were back with backing for a bull market again. So but right now we're just past the previous peak just by a little bit. It's only to 2.5 X. And right now the fundamentals are much much stronger than three years ago. We see a lot more users a lot more institutions coming in and a lot more inflation happening in outside of the industry. We see divide taking off. So we see a lot more there's lot more activity now in this industry than three years ago. And also from the user numbers we see I believe the first time I talked with you guys on this channel. We were seeing all time highs of 300000 registered new registered users per day. And now we're sustaining above that peak sustained on a day to day basis. So yes in 2017 we just saw a peak and then dropped. But now we're seeing sustained volume revenue new users coming at a faster speed than that. So I think we're just seeing the beginning. What do you say is fair value then you have a price target. So this is the thing about crypto right. There's no real there's no fair value. You just got to represent how much wealth that a lot of people into using it or people in the industry. So I think right now if you look at the market only you Levin listed companies that announce they're holding crypto currencies holding bitcoin. There's 650000 companies in the world. So we're just seeing a very small step. And if you look at the sort of individual holders I think we're reaching somewhere between 1 percent adoption globally. So I think that's probably somewhere around 100 to 150 maybe 200 million users in crypto right now. That's just based on a very rough guess but that's probably less than 1 percent adoption right now. So we still have no one like 10 percent 80 percent to goal number two. The crypto market should be larger than the fiat market because with crypto currencies there's a lot more you can do. That's a lot more use cases that's possible now. So this is similar to world market. Market size is bigger than the taxes. So I think we're just I think it's very clear we're just at the beginning and things are just starting to since this finally have started rolling. All right let me talk to you about finance quiet though because your own token has actually jumped even more than Bitcoin itself. How are you planning to leverage that ride. So yeah. So this is the thing about bonus. Started to sell more or less slowly centralize the platform exchange token. And he has if history outperform even bitcoin in EA over the last three years and more recently it's really contributed by the bonus MA champ which is a decentralized block chain that a lot of new D5 projects are running on their like a cake a pancake etc.. So I think the current boom is really caused by that. But more fundamentally though I think because finance coin has a smaller market cap than bitcoin it it it it is actually easier to grow that. And there's more development activity happening with finance coin than bitcoin. I think bitcoin will act as the global reserves in the cryptocurrency space but for bonus coin there's a lot more activity going on. But I understand bonus coin do have higher risk than bitcoin. So Bailey smaller market cap higher volatility higher potential growth higher risk. So that's the I think I think that's the fundamentals for this coin. Just quickly you're offering dodge coin futures as well. I think you're on Moscow's IBEX. Support her right. What do you make of that. Yeah I think I'm surprised that you are so gung ho on dogecoin. But I think look this is the free decentralized free world right. Anybody can like anything. He can like Dogecoin for any reason he likes. And I I strongly believe that he's not really associated with Dogecoin any way. Dogecoin is one of those jokes. That's one of those coins that start as a joke. But it's getting a lot of popularity over time just for various reasons that nobody would expect it. So I think you learn really likes it. But the fact that the fact though is that Tesla I think bought bitcoin. Not not not Dogecoin. So I think you long you long probably likes it likes it a lot personally. And we listed a long time ago and we added futurists reasonably just because of the new demand liquidity. So we do what we do where users go.

No schedule data available.

Seeing Tip of the Iceberg With Bitcoin: Binance CEO

Changpeng “CZ” Zhao, founder and chief executive officer at Binance Holdings Ltd., discusses the rally in bitcoin, fair value for the cryptocurrency and his outlook for his own Binance coin. He speaks exclusively on “Bloomberg Daybreak: Asia.” (Source: Bloomberg)

More From Daybreak Asia
All episodes and clips