With the heavy crash in the crypto market Changpeng Zhao, the Binance CEO, remains committed to the great future ahead of the crypto market.
Changpeng’s recent tweet said he didn’t sell any of his Bitcoin (BTC) or Binance Coin (BNB) to show his firm conviction in the crypto market. Changpeng Zhao founded Binance, the world’s largest cryptocurrency exchange, to realize its dream of financial freedom. But as global policy tightens, risk assets are bearing the brunt.
According to data from CoinGecko, the two cryptocurrencies are down by 70.85% and 65.86% from their all-time highs.
In a 2021 interview with The Associated Press, CZ said he bought bitcoin in 2014 after selling his house. The price of bitcoin fell from $600 to $200 shortly after the CEO bought bitcoin, but CZ hadn’t conducted any cryptocurrency sales at the time. After witnessing several bullish and bearish cycles for Bitcoin, the Binance CEO managed to retain most of the initial Bitcoin purchases.
Zhao also said Binance Coin is the leading crypto exchange’s native token in the trading volume. It accounted for most of its net worth at the time. Other than that, he’s a “decent” stock exchange shareholder.
Although the total amount of crypto assets is unknown, according to the Bloomberg Billionaires Index, CZ has $18.7 billion in assets, making him the 77th richest person in the world. Changpeng Zhao became the wealthiest man in China and was among the top richest people in the world, making him famous worldwide. The CEO’s net worth is said to have suffered a massive $77 billion loss due to the cryptocurrency market’s downturn.
Yet, the wealthiest cryptocurrencies remain sheltered from the bear market. Last month, Zhao predicted that Bitcoin could return to $70,000 “within months or years.
Zhao has predicted that MicroStrategy CEO Michael Saylor will soon laugh last after the CEO suffered huge losses due to the falling of the Bitcoin price.