HONG KONG — Binance founder Changpeng “CZ” Zhao believes the convergence of equity markets and crypto is ushering in a new era for digital assets, one that expands access to institutional capital and broadens crypto’s global reach.

But he cautions that the sector still faces significant risks, especially as it enters its first major bull cycle since these structures gained traction.

Speaking at BTC Asia in Hong Kong, CZ said moves by public companies to hold bitcoin (BTC) and other cryptocurrencies on their balance sheets — following the example set by MicroStrategy — mark a breakthrough moment.

“In the world’s largest economy, 90%-95% of the money is managed by institutions,” he noted. “Until ETFs and treasury companies, those guys couldn’t participate in crypto in a large way.”

By br

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