Changpeng Zhao (CZ), founder and former CEO of Binance, the world’s largest cryptocurrency exchange, made important statements about the cryptocurrency industry.
Speaking at the BitcoinAsia event held in Hong Kong, CZ claimed that Bitcoin will eventually become the global reserve currency.
Stating that he has personally witnessed the development of BTC from its first day to the present, CZ said that Bitcoin will be at the center of the financial system in the very near future.
“I have witnessed the evolution of Bitcoin firsthand.
It is very encouraging to see not only the traditional financial sector but also governments and states embracing Bitcoin and other cryptocurrencies.
We’ve already come a long way. So the day is not far off when Bitcoin will assume a central role in the global financial system.”
Be Careful of Cryptocurrency Companies!
While CZ praised Bitcoin in his speech, he also warned investors about the risks posed by the rise of institutional crypto treasuries.
CZ said that the increasing interest of companies in Digital Asset Treasury (DAT) strategies is positive for the market, but also calls for caution.
CZ stated that DAT strategies provide traditional stock market investors with indirect exposure to cryptocurrencies and help promote wider adoption of crypto and Bitcoin.
However, he warned that if the market were to decline, the stock prices of these companies, along with crypto assets, could fall simultaneously.
Therefore, investors in such companies should monitor market volatility and structural risks, and exercise greater caution when investing, Zhao said.
CZ also recently added that he keeps most of his wealth in BNB.
*This is not investment advice.