CZ Reveals Government Officials Now Refer to Crypto as 'Hard Money' in Advisory Discussions

Former Binance CEO Changpeng Zhao (CZ) reported on November 9, 2025, that during his advisory discussions with senior government officials from two unnamed countries, cryptocurrency was explicitly called 'the hard money'. CZ characterized this as a pivotal moment, indicating that the realization is finally happening regarding crypto's economic role globally.

In a post on X, CZ stated, In my advisor role to governments, last week, two senior officials from two different countries referred to crypto as 'the hard money'. The realization is finally happening. The term hard money refers to currency backed by valuable commodities like gold or silver, known for maintaining stable value and resisting inflation. As of 2025, Bitcoin and gold together account for approximately 14% of the global money supply.

Bitwise CEO Hunter Horsley emphasized Bitcoin's scarcity, with an annual supply increase of just 0.84% compared to gold's 1.5-2%, while CZ has highlighted blockchain transparency over gold's verification challenges. CZ's advisory roles include appointments to Pakistan's Crypto Council in April 2024, where an estimated 15-20 million crypto users represent about 8% of the population, and to Kyrgyzstan's government in May 2025, focusing on digital asset integration.

These developments followed CZ's release from a four-month U.S. prison sentence in September 2024 and a pardon by former President Donald Trump in October 2024. Kyrgyzstan launched its national stablecoin, KGST, in October 2025 and established a cryptocurrency reserve including BNB, while Pakistan announced a Bitcoin strategic reserve in May 2025 and began exchange licensing in September.

Globally, government crypto adoption is accelerating: the U.S. leads with $34.2 billion in holdings, including 326,588 BTC in its Strategic Bitcoin Reserve after seizing $14 billion from illicit activities. The U.K. holds $6.36 billion, El Salvador maintains $652 million in Bitcoin, and Galaxy Research predicts at least five more nations will add Bitcoin to reserves by end-2025. Analysts project this institutional recognition could drive Bitcoin prices to $200,000 by late 2025.