CZ: Officials Now Refer To Crypto As ‘Hard Money’

Former Binance CEO Changpeng Zhao reported on November 9 that senior government officials from two unnamed countries recently referred to cryptocurrency as “hard money” during his advisory discussions. Zhao characterized this as a sign that “the realization is finally happening” regarding crypto’s economic role.

The term “hard money” historically refers to scarce, commodity-backed currency like gold. Bitcoin and gold currently account for approximately 14% of the global money supply. Bitwise CEO Hunter Horsley has described Bitcoin as the scarcest store of value, with a lower annual supply increase than gold.

Zhao serves as an official cryptocurrency advisor to the governments of Kyrgyzstan and Pakistan, roles he assumed in 2025. Pakistan appointed him to its Crypto Council in April 2024, while Kyrgyzstan appointed him as an advisor to President Sadyr Japarov in May 2025. These appointments occurred following Zhao’s release from a U.S. prison sentence in September 2024 and a subsequent pardon by former U.S. President Trump.

Kyrgyzstan launched its national stablecoin, KGST, and established a cryptocurrency reserve in October 2025, including BNB. Pakistan announced a Bitcoin strategic reserve in May 2025 and began licensing exchanges through its Virtual Assets Regulatory Authority in September.

Globally, government adoption of cryptocurrency is increasing, with the United States leading in holdings at $34.2 billion. El Salvador maintains its $652 million Bitcoin holdings as legal tender. Galaxy Research projects that at least five more nation-states will add Bitcoin to reserves by year’s end.

This shift in terminology, from viewing crypto as speculative to recognizing it as sound money, could contribute to Bitcoin price predictions reaching $200,000 by late 2025.

Source: www.coinspeaker.com

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.