Binance’s CZ Holds crypto
Binance CEO Changpeng Zhao continues to keep his cryptocurrencies after recently projecting that Bitcoin’s price will rebound to $70,000.
Binance CEO Changpeng Zhao said in a recent tweet that he has not sold any Bitcoin (BTC) or Binance Coin (BNB) to demonstrate his strong faith.
According to statistics given by CoinGecko, the values of Bitcoin and Ethereum are down 70.85 percent and 65.86 percent from their respective all-time highs.
Zhao stated in a 2021 interview with the Associated Press that he purchased Bitcoin in 2014 after selling his home. Shortly after his purchase, the price of Bitcoin decreased from $600 to $200, but he did not sell his coins. Even though the biggest cryptocurrency has seen numerous boom-and-bust cycles, the CEO of Binance has retained the bulk of his original Bitcoin holdings.
Zhao also said that the Binance Coin, the native token of the leading cryptocurrency exchange by trading volume, comprised the bulk of his net worth at the time. Other than that, he is a “considerable” stakeholder in the exchange.
According to the Bloomberg Billionaire Index, Zhao is the 77th wealthiest person in the globe with a net worth of $18.7 billion. Due to the deplorable situation of the bitcoin market, his net worth has plummeted to a staggering $77 billion.
However, the wealthiest bitcoin entrepreneur is unfazed by the market decline. Zhao predicted last month that Bitcoin might recapture the $70,000 milestone “in a few months or years.”
Zhao also claimed that MicroStrategy CEO Michael Saylor, whose firm is experiencing significant losses owing to the declining price of Bitcoin, will get the final laugh.