Changpeng ‘CZ’ Zhao took the Falcon Stage on day 2 of Bitcoin MENA 2025, Abu Dhabi. During a fireside chat, the former Binance CEO and co-founder, Changpeng ‘CZ’ Zhao, declared the famous Bitcoin four-year cycle “dead” while speaking with Brandon Green of BTC Inc.
CZ declares no point following Bitcoin’s four-year cycle
The audience at Bitcoin MENA 2025 finally heard it from the most successful crypto entrepreneur himself. Speaking at the event, CZ said that it’s best not to follow the Bitcoin four-year cycle narrative. He remarked:
I think they are dead. It’s best we don’t follow them.
For the uninitiated, the Bitcoin four-year cycle is the cryptocurrency’s historical price action following each ‘halving.’ After every 210,000 block confirmation – or roughly four years – BTC undergoes a 50% reduction in its block rewards.
As the block rewards are cut in half, the supply scarcity of the digital asset rises, usually leading to a higher price for BTC. Every market cycle following Bitcoin’s first halving in November 2012 has stayed true to the pattern, as the cryptocurrency went on to post new record highs following the halving.
BTC’s latest halving occurred in April last year, which reduced the digital asset’s blockchain rewards from 6.25 to 3.125. Unsurprisingly, Bitcoin then went on to hit a new all-time high of $126,080 in October 2025.
According to CZ, however, this price pattern may not hold true anymore. When asked about whether the crypto industry will see a bull market in 2026, CZ said that “we may see a supercycle. I’m not too sure.”
Surprised by the crypto ETF approval
Speaking on the topic of cryptocurrency exchange-traded funds (ETFs) approval by the US Securities and Exchange Commission, CZ said that he was actually surprised it happened.
The former Binance CEO gave the rationale behind his surprise, saying that the ETF approvals came at a time when he was facing legal challenges in the US for “pushing crypto.”
To recall, CZ received a presidential pardon from Donald Trump in October 2025. However, later Trump denied knowing CZ, saying he “doesn’t know who he (CZ) is.”
CZ added that this cycle is seeing far more institutional participation than ever before. He referred to the rising adoption of digital assets among nation-states like El Salvador and the push to create sovereign Bitcoin reserves (SBR) around the world, including in the US. He noted:
This is very good for crypto. We will see more adoption.
Towards the end of the chat, CZ stated that he would like to be remembered for pushing crypto adoption around the world. He said that since he stepped down from Binance, he is actually having more impact, as people take his advice “more openly” now.
