Binance Founder Changpeng Zhao: Bullish on Bitcoin but Opposes "All-In" Position, Recommends Dollar-Cost Averaging

Binance co-founder Changpeng Zhao remains optimistic about the long-term prospects of Bitcoin and cryptocurrencies but warned investors against going "all-in."

Not "All-In," But Dollar-Cost Averaging

Speaking at the Sunday Bali Clubhouse 2026 AMA event, Zhao was asked what the 2026 equivalent decision would be—he sold his apartment in 2014 to buy Bitcoin.

Zhao stated: "I would not advise anyone to sell their apartment to go all-in," especially when real estate represents the majority of their wealth.

Instead, CZ recommended a dollar-cost averaging strategy, suggesting investors allocate a small portion of income that does not affect their lifestyle to established cryptocurrencies.

Zhao said he still believes "Bitcoin will continue to grow," along with BNB and other strong crypto projects, but he emphasized the significant volatility involved.

When asked whether Bitcoin's traditional four-year cycle is breaking down, Zhao denied it.

He said: "I think the four-year cycle is still holding very strongly," noting that the current market environment resembles the bear market phase seen four years ago.

However, Zhao did not precisely predict what would trigger the next crypto cycle.

Given Bitcoin's capped total supply and the continued reduction of available supply as coins are permanently lost, Zhao views Bitcoin as a "deflationary asset."

What Will Be the Next Major Catalyst?

While Zhao is uncertain whether AI, real-world assets, or DeFi will provide the next major catalyst for cryptocurrency, his broader argument remains bullish.

He is particularly optimistic about RWA tokenization but said it is difficult to know whether RWA, tokenized stocks, decentralized exchanges, or other innovations will drive cryptocurrency to its next all-time high.

Zhao cited the emergence of DeFi in 2020 as an example of how new narratives can develop rapidly.

Zhao expects DeFi, perpetual DEXs, and blockchain to continue being important components of the industry.

He said: "The best way not to be threatened by cryptocurrency is to adopt cryptocurrency," drawing an analogy to AI tools that he expects to be widely available to investors and developers.