Changpeng Zhao said at the Bitcoin Asia 2026 conference in Hong Kong that many countries still misunderstand Bitcoin by treating it as a dangerous asset, while the real risk is not using it. He compared that stance to failing to invest in AI, arguing that avoiding a transformative technology is the bigger threat for a country.
On sovereign reserves, Zhao said Bitcoin will ultimately become more important than gold. He said large countries may take longer to shift, but the direction is clear. He also said the odds are low that another digital asset will prove superior to Bitcoin and overtake it before Bitcoin itself moves ahead of gold.
Zhao added that Bitcoin could surpass gold relatively soon, saying the current gap between the two is only about 10x and that the next bull market may be enough to close it. As for reserve allocation, he said countries should, alongside U.S. dollar reserves, consider holding the top five cryptocurrencies by market capitalization excluding stablecoins, weighted by market cap. In that framework, Bitcoin would usually account for more than 50%, Ethereum for 10% to 20%, with BNB and others also included.
According to on-site reporting from Foresight News, Changpeng Zhao said at the Bitcoin Asia 2026 conference in Hong Kong that many countries still misunderstand Bitcoin and view it as a dangerous asset. In his view, the greater danger is not using Bitcoin at all. He compared that to AI, saying that for a country, the real risk today is similar to not investing in AI technology.
Bitcoin will become more important than gold, Zhao says
Speaking about strategic reserves, Zhao said Bitcoin will definitely become more important than gold. He said large countries need time to change course, but the trend will happen.
He also said the chances are small that another digital currency will prove better than Bitcoin, overtake it, and secure the top position before Bitcoin surpasses gold.
On timing, Zhao said Bitcoin will exceed gold fairly soon. He put the current gap at only about 10x and said the next bull market could be the point when that happens.
Reserve allocation idea centers on the top five cryptocurrencies by market cap
Zhao said his usual suggestion is that countries, in addition to their U.S. dollar reserves, allocate to the top five cryptocurrencies by market capitalization after excluding stablecoins, using market-cap weighting. He described that as the simplest and most market-driven approach.
Under that framework, Bitcoin would usually make up more than 50% of the allocation, Ethereum would account for 10% to 20%, and BNB and other assets would also be included.
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