Along with this statement, he stated that he had never sold the majority of the cryptocurrency he had owned since the first time he learned and understood crypto.
According to Binance CEO Comments on Tesla Bitcoin Sales, many investors are concerned about the impact of a significant negative movement.
However, Binance’s CEO stated that it will not be as bad as many people believe.
Changpeng Zhao, also known as CZ, stated that Tesla’s sale of Bitcoin would have no significant impact on the asset’s fundamental value.
Elon Musk, CEO of Tesla, stated that the sale of Bitcoin will be used to fund the opening of new factories in the United States and Germany, as well as to support his company’s funds in China, which has been severely impacted by COVID-19.
So it appears that this sale is not a way to further depress Bitcoin’s price or Tesla’s distrust of Bitcoin, supporting CZ’s argument that Bitcoin will not fundamentally change.
CZ also commented on Elon Musk’s statement about Tesla’s Bitcoin sale. No one knows for certain why Elon Musk sold Tesla’s Bitcoin, he claims.
CZ also speculates that this sale is related to funding requirements related to Elon Musk’s purchase of Twitter.
All of these statements he made in an interview with CNBC, where he also provided information regarding the current state of Binance.
Binance is Still Secure
During the interview, CZ also discussed the safety of Binance’s funds to date, although many companies have gone bankrupt.
He stated that Binance works with troubled companies such as Celsius and Voyager on a very limited basis, so its finances are still secure.
The collaboration in question is limited to fund management services, according to CZ, and Binance is not a creditor or lender to these companies.
“Because we are stupid and prefer the easy way, we are an investment platform and do not lend money to other businesses,” CZ stated.
Furthermore, CZ stated that despite the market’s negative movement, he still keeps the majority of the crypto he owns.
He also stated that he does not currently have large amounts of fiat money in his savings because the majority is crypto.
“I don’t have any dollars.” Everything I own is encrypted. So, when I need money, I’ll spend some of it with cryptocurrency. I completely believe in cryptocurrency and would never consider selling it. “Cryptocurrency is money. CZ stated
The statement indicates that he still believes in the long-term potential of cryptocurrency. Given his background, this is only natural given that he was one of the first people to believe in cryptocurrency.
More News About Crypto : NEWS
Follow our Twitter : https://twitter.com/DinoDapps
