Binance CEO Changpeng “CZ” Zhaostated that despite the volatility and declines in the market, it continues to hold crypto assets and does not plan to sell it at this time.
He recently shared tweetReplying to Binance CEO CZ, showing his belief in the markets, Bitcoin (BTC) in his hand and Binance Coin (BNB) He stated that he did not sell his assets.
According to data from CoinGecko, which tracks crypto prices, BTC and BNB lost 70.85% and 65.86%, respectively, from their highest level.
Speaking in an interview with the Associated Press in 2021, Zhao claimed that he bought Bitcoin in 2014 after selling his house. The Bitcoin price dropped from $600 to $200 shortly after its purchase, but it did not sell its holdings at that time either. Despite the fact that the largest cryptocurrency has gone through several bullish and bearish cycles, Binance CEO allegedly managed to retain most of the first Bitcoin stash.
Changpeng Zhao also stated that Binance Coin, the native token of the top crypto exchange by trading volume, represented the majority of his net worth at the time. Apart from that, it is already known that there is a “proper size” shareholder in the stock market.
According to the Bloomberg Billionaire Index, Zhao has a total worth of $18.7 billion, making him the 77th richest person on the planet. It is also included in the data in question that his net worth has dropped by $77 billion due to the dire state of the cryptocurrency market.
All the volatility experienced did not cause the world’s richest crypto entrepreneur to be affected by the bear market much. Zhao, last month bitcoinHe predicted that within a few months or years, $70,000 would be recovered.
Zhao also predicts that MicroStrategy CEO Michael Saylor, whose company is currently suffering huge losses due to the falling Bitcoin price, will have the last laugh. Let’s see if Zhao will succeed in his predictions.
You can follow the current price action here.
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. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.