Changpeng Zhao, CEO of Binance, the world’s largest cryptocurrency exchange, said in an interview with Yahoo Live that some people do not need to invest in cryptocurrencies.
CZ stated that he is not bothered by Hathaway CEO Warren Buffett, who is known for his harsh criticism of cryptocurrencies and continues to be critical, is indifferent to crypto.
Stating that there will be no shortage if some billionaires such as Warren Buffett do not invest in crypto money, Binance CEO stated that the crypto investment business is not for everyone.
“I would not persuade him to invest in crypto. I don’t think everyone needs to invest in crypto.
My mom doesn’t use the internet much and that’s okay. Internet is fine. My mother is fine. So we don’t have to convince everyone to use crypto.”
CZ said that Buffett actually had similar investment strategies, after noting that he had many successful investment theses and he respected that.
“Buffett likes to own a small number of stocks that are very successful and know well. It does not want to diversify its portfolio with hundreds of shares.
This is very similar to my personal mentality. I also only have BNB and Bitcoin. I do not diversify with different cryptocurrencies.”
CZ also stated that he is worried if Warren Buffett invests in cryptocurrencies, adding that he “may not have the necessary knowledge and skills to keep cryptocurrencies safe”.
Warren Buffett, who used the term rat poison for cryptocurrencies in an interview in previous years, continued to make similar and harsh criticisms afterwards.
*Not Investment Advice.