As rapid financial changes and geopolitical shifts prompt investors to reassess traditional assets, prominent crypto figures Changpeng Zhao (CZ) and Arthur Hayes offer insights into why focus is shifting towards alternatives like gold and Bitcoin. 

Their perspectives highlight both current market behavior and deep-seated macroeconomic trends. 

CZ: Speculative Frenzy Reigns, But Builders Will Return

Former Binance CEO CZ recently observed a sentiment shift within crypto. He noted via X that many participants now seem less focused on building meaningful technology and more on short-term profits or “who can exit with the biggest bag.” This speculative attitude, evident in areas like the memecoin market, concerns long-term builders.

However, CZ remains optimistic that serious developers (“builders”) will return, particularly when speculative waves subside, as historical bear markets often foster real innovation. He advises patience and focus for those with a long-term vision.

Related: Trump Tariffs Shock Markets: Crypto Loses $100B, Bitcoin Price Unstable

Hayes: US Debt, Tariffs Undermine Treasuries, Boost BTC/Gold

BitMEX co-founder Arthur Hayes provides a macroeconomic framework for the shift. He argues the global financial system’s reliance on U.S. Treasury dominance is cracking under the weight of massive U.S. federal debt accumulated since leaving the gold standard in 1971.

Hayes connects this historical debt expansion to domestic political discontent and the rise of “America-first” trade policies like President Trump’s recent tariffs. These tariffs, he argues, disrupt the global flow of dollars. If foreign nations earn fewer dollars via trade, they cannot easily buy more U.S. debt and may be forced to sell existing holdings of US Treasuries and equities, weakening traditional markets. Policy uncertainty further deters foreign reliance on the US financial system.

Consequently, Hayes predicts gold will re-emerge as a preferred neutral reserve asset for international trade settlement due to its immunity from such policies. He views Bitcoin as the digital alternative, gaining appeal as a store of value when trust in traditional systems erodes.

Hayes’ $1M Bitcoin Path Tied to Policy Fallout, Currency Wars

This macro shift, Hayes predicts, could propel Bitcoin towards $1 million, especially if currency turmoil erupts between the U.S. and China. 

Related: Bitcoin’s Trump Tariff Test: Down to $82k, Can $78k Support Endure?

He specifically forecasts the USDCNY exchange rate hitting 10.00 due to political pressures, calling this currency dynamic a potential “super bazooka” for Bitcoin’s price.