CZ: Bitcoin “Super Cycle” has not materialized; market remains in bearish phase of the four-year cycle

Odaily News: At the SALT conference held in Jackson Hole, Wyoming, USA, Binance founder CZ stated that the Bitcoin “super cycle” has not yet materialized. The market still follows a relatively strict four-year cycle pattern and is currently in a bear market phase; as total market capitalization expands, price fluctuations are expected to narrow. However, CZ noted that the current industry environment is the most favorable in his 12 years of practice. The US regulatory framework serves as a model for the world, with multiple countries’ securities laws and exchange regulatory structures referencing the US. Hong Kong is also accelerating its legislative efforts to align with US regulatory thinking.

Regarding the allocation of investment firm YZi Labs, CZ disclosed that approximately 70% of funds are invested in core tracks within crypto and blockchain, around 20% in AI, and the remainder in fields such as biotechnology. The firm uses its own capital and is not constrained by external LP return cycles, placing greater emphasis on projects’ positive impact and the execution capability of founding teams rather than purely financial returns.