CZ Says Crypto Adoption Is Still Below 1%, Leaving Significant Room for Growth

Binance founder Changpeng Zhao, better known as CZ, said the cryptocurrency industry still has substantial room to grow because adoption remains below 1%.

BlockBeats reported on July 17 that Zhao said on a recent podcast many people still view crypto as a speculative investment and focus on when to exit the market. But crypto and blockchain are fundamentally infrastructure technologies and should not be understood only through the lens of short-term price moves, he said.

Zhao named blockchain, alongside the internet and artificial intelligence, as one of the three major infrastructure technologies he has experienced. Measured against total wealth, crypto industry adoption is still below 1%, he said, leaving considerable room for further growth.

He also said the line between traditional finance, or TradFi, and crypto will gradually disappear. Stock tokenization and the adoption of blockchain by banks and financial institutions already show the two financial systems are converging.

Ultimately, traditional finance and crypto finance will be integrated into a single financial system, he added.