Changpeng Zhao, CEO of Binance, recently announced in a tweet that he hasn’t sold any Bitcoin (BTC) or Binance Coin (BNB) to demonstrate his steadfast belief.
According to information provided by CoinCu, the prices of the two aforementioned cryptocurrencies are down 70.85 % and 65.86 % from their respective all-time highs.
Zhao said in a 2021 interview with the Associated Press that he had purchased Bitcoin in 2014 following the sale of his home. Shortly after his purchase, the price of Bitcoin went from $600 to $200, but he didn’t sell his coins at that time. The chief executive officer of Binance has been able to hold onto the majority of his initial Bitcoin stockpile despite the fact that the biggest cryptocurrency has through many boom-and-bust cycles.
The native token of the top cryptocurrency exchange by trading volumes. He is a “decent-sized” shareholder in the exchange aside from that.
Zhao is the 77th richest person on the earth, valued at $18.7 billion by the Bloomberg Billionaire Index. Due to the terrible status of the bitcoin market, his net worth has fallen by a staggering $77 billion.
The richest bitcoin businessman, though, is unconcerned about the bear market. Bitcoin might potentially retake the $70,000 level “in a few months or years,” according to Zhao’s prediction from last month. As of the time of publication, BTC is trading at $20,151, according to Coinpaprika.
Zhao also prophesied that MicroStrategy CEO Michael Saylor, whose business is currently suffering greatly as a result of the declining value of bitcoin, would ultimately have the final laugh.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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