world’s largest cryptocurrency Changpeng Zhao (CZ), CEO of the exchange Binance, said in a statement. in Bitcoin (BTC) He talked about the last big rally.
Making a statement on Twitter, CZ reminded that it is difficult to own crypto money and especially in the last few months, people who own crypto have had a hard time.
Holding crypto is tough. It wasn’t easy for the people who held on in the past few months. 👏
— CZ 🔶 Binance (@cz_binance) March 18, 2023
“Bitcoin Never Needs a Rescue Package”
Despite the challenges, CZ pointed out that Bitcoin has never needed a bailout, unlike recent bank failures in the US that required authorities to step in with a bailout.
#bitcoins is volatile, but it never needed a bailout.
— CZ 🔶 Binance (@cz_binance) March 17, 2023
CZ noted that Bitcoin is a unique asset in that it cannot be generated from scratch “on demand” and mining is a key feature of the network.
“Mining will never end, even after block rewards stop, miners will continue to protect the network for transaction fees,” CZ tweeted.
He added that while Bitcoin is volatile, it has never needed a bailout and can continue to operate independently without government intervention.
However, after a user said that the last cryptocurrency crashes were worse than the crashes in 2018, CZ said, “I think it may just be a “memory weakening” effect. We tend to forget about pain over time.” He argued that the crash in 2018 was much bigger than the last crash.
As it is known, after many banks in the USA were in a difficult situation, the authorities had put into effect billions of dollars of bailout packages for these banks.
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price tracking right now by downloading our apps!