Changpeng Zhao (CZ), former CEO of Binance, the world’s largest cryptocurrency exchange, has issued an important statement about the cryptocurrency industry.
At the Bitcoinasia event held in Hong Kong, CZ claimed that Bitcoin would eventually become the world’s reserve currency.
CZ said he personally witnessed the development of BTC from the first day of BTC to the present, saying Bitcoin will be at the heart of the financial system for the near future.
“I have first seen the evolution of Bitcoin.
It is very encouraging to see not only the traditional financial sector, but also governments and states that employ bitcoin and other cryptocurrencies.
We have already come a long way. Therefore, it is not too far away that Bitcoin will take on a central role in the global financial system. ”
Beware of cryptocurrency companies!
Although CZ praised Bitcoin in his speech, he also warned investors about the risks posed by the rise of the institutional cryptocurrency ministry.
CZ said the growing interest of companies in the Digital Assets Treasury (DAT) strategy is positive in the market but is looking for attention.
CZ said the DAT strategy will provide traditional stock market investors with indirect exposure to cryptocurrencies and help promote widespread adoption of crypto and Bitcoin.
However, he warned that if the market declines, stock prices in these companies could fall simultaneously along with crypto assets.
Therefore, investors in such companies need to monitor market volatility and structural risks and pay greater attention when investing, Zhao said.
CZ recently added that he holds a large portion of his wealth in BNB.
*This is not investment advice.
