Binance founder Changpeng Zhao, also known as CZ, is once again gaining attention from the crypto market participants with his latest analysis and comments. For context, CZ has recently warned that owning one full Bitcoin would become difficult even for millionaires.
Notably, his latest comments focus on the fixed supply of Bitcoin and potentially lost coins. Besides, the comments have also revived his longer-term $1 million Bitcoin outlook, which has further caught the eyes of crypto market enthusiasts.
CZ Sparks Discussions With Latest Bitcoin Comment
Changpeng Zhao (CZ) recently highlighted the advancing scarcity of Bitcoin in an X post. He noted that more than 20.07 million BTC had been mined by August 2026, leaving roughly 4.4% of BTC’s maximum 21 million supply yet to be created.
Meanwhile, he also pointed to another factor that could tighten the available supply. CZ estimated that 10% to 20% of existing Bitcoin may be lost, stuck, or permanently inaccessible.
That estimate matters because the flagship crypto cannot simply replace coins that owners can no longer access. Lost private keys can effectively remove coins from the usable market. However, the exact amount of permanently lost Bitcoin remains difficult to determine.
The implication becomes striking when Bitcoin ownership is compared with millionaire numbers. Trader Quinten Francois noted that the United States has around 23.6 million millionaires, arguing that there are not enough BTCs for every millionaire to hold one.
Commenting on that, Changpeng Zhao suggested that millionaires could eventually find themselves unable to purchase a complete Bitcoin. This has fueled market discussions on the BTC’s potential to hit the million mark, especially given his previous calls for the crypto.
The Million-Dollar BTC Argument in Focus
The latest scarcity comments from Changpeng Zhao have also reignited discussions around his previous Bitcoin price outlook. In July, he outlined a scenario where Bitcoin (BTC) could reach $1 million around the 2033 market cycle.
Meanwhile, his previous comment was focused on Bitcoin’s historical market cycles. CZ described the forecast as a possible scenario rather than a guaranteed prediction, given that BTC or the overall crypto market adoption continues to expand.
In addition, a flurry of other market experts like Ark Invest’s Cathie Wood have also shared similar calls for BTC price to reach the $1 million mark. Simultaneously, Mexican billionaire Ricardo Salinas Pliego has also argued that Bitcoin could eventually reach $1 million by putting around 70% of his total portfolio into Bitcoin.
Considering that, CZ’s comments offer a bullish scarcity argument for BTC investors, but traders must still exercise due diligence. For context, investors should note that scarcity alone cannot guarantee higher prices, and given the current macroeconomic and geopolitical tensions, demand can change quickly.
Meanwhile, to successfully exercise due diligence in a highly volatile market, investors must leverage best crypto tools for research and analysis that monitor on-chain metrics.
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