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The conversation about the crypto market’s future took an exciting turn when Changpeng “CZ” Zhao, the CEO of Binance, recently shared his thoughts during a Twitter Q&A session on July 5. He tackled several issues, including Binance’s reaction to ongoing regulatory scrutiny, the rise of institutional interest in cryptocurrencies, and BlackRock’s recent move into the crypto industry. However, the highlight of the session was CZ’s prediction about Bitcoin‘s next bull market.

Predicting market trends is never an exact science, as CZ acknowledged. Nonetheless, he presented his analysis based on Bitcoin’s historical performance, characterized by four-year cycles of bullish activity. Highlighting the Bitcoin halving event anticipated in 2024, CZ suggested that this pattern often sparks a bull market the following year. Consequently, he pointed towards 2025 as the likely timeframe for the next major Bitcoin bull run.

Interestingly, during the discussion, CZ also addressed BlackRock’s entry into the Bitcoin exchange-traded fund (ETF) market. Instead of expressing concern, he welcomed the move, asserting its considerable advantages for the entire crypto industry. Despite concerns about traditional finance firms’ intentions clashing with Bitcoin’s decentralized nature, CZ showed little worry.

He further quelled fears about BlackRock potentially overshadowing Binance‘s market share. CZ dismissed such worries, emphasizing that their respective customer bases barely overlap. He expressed a positive outlook, asserting that newcomers like BlackRock could attract more people to the crypto world. While he admitted to potential competition for existing users, he underscored the distinct customer base of Binance.

BlackRock’s Entry into Crypto

A year ago, BlackRock, the world’s largest asset management firm handling $9 trillion in assets, joined hands with Coinbase, a major crypto exchange platform, amplifying its Bitcoin-related services since then. They are following a path already taken by many Wall Street giants: offering crypto services for substantial fees in exchange for secure access to the unpredictable, but potentially very profitable, crypto market.

Last month, BlackRock surprised the crypto world by applying for a U.S. spot Bitcoin exchange-traded fund (ETF). Other financial powerhouses closely watched this move, believing BlackRock could successfully pave the way through the regulatory landscape. Despite the initial application being rejected by the Securities and Exchange Commission (SEC) for its lack of “clarity and comprehensiveness,” Nasdaq refiled for BlackRock’s iShares Bitcoin Trust recently, hinting at the firm’s determination to find a pathway to the market.

Larry Fink, at the helm of BlackRock, has made an unexpected turnaround and once a critic of Bitcoin, dismissing it as an “index of money laundering,” he now believes that cryptocurrencies have the potential to “revolutionize finance”.

Fink and BlackRock have come to view Bitcoin not as a means for transactions, but rather as a modern equivalent to gold. According to Fink, Bitcoin is digitizing the concept of gold. He believes it serves as a global asset, providing an alternative investment avenue not tied to any single currency. This, he said, resonates with BlackRock’s foundational belief in a brighter future, embodied in the act of investing for retirement.

CZ’s Strategy for Investing into Crypto

CZ identified two key factors driving Binance‘s strategy for the next eighteen months: the impending Bitcoin halving event and rising institutional interest in cryptocurrencies. These factors lead Binance to brace for higher trading volumes.

The regulatory actions Binance is currently facing also came up during the session. CZ confirmed the situation but did not delve into specifics. He mentioned that Binance’s goal is to find the most prompt, reasonable, and mutually agreeable resolution to the situation.