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Gold is worth around ten times more than BTC, Changpeng Zhao said, noting that countries face a years-long process to "shift into Bitcoin."

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The financial services giant plans to expand Schwab Crypto beyond Bitcoin and Ether just months after rolling out direct crypto trading to retail clients.

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ETH price has come a long way from June's $1,510 support, where a double-bottom pattern formed. The rebound took its time, with the token struggling around the pattern's neckline from mid-July into mid-August, but late August finally brought the breakout, pushing ETH to $2,535.

 

Bitcoins recent surge above $80,000 is facing a major test as investors turn their attention to Federal Reserve Chair Kevin Warshs speech at the Jackson Hole symposium on Friday. BTCs rally over the past 10 days followed moves by U.S. Treasury Secretary Scott Bessent and the Treasury Department aimed at easing pressure on long-term interest rates.