Binance CEO believes in a good future for Bitcoin and talks about other cryptocurrencies
Binance Chinese-Canadian CEO Changpeng Zhao showed optimism in the future of Bitcoin, despite the recent downturn that brought the price of BTC below $ 10,000. In a show of faith, the businessman postulated that Bitcoin will be worth $ 1,000,000, but he did not reveal how long the magic would take place.
Making his series of crypto and Bitcoin predictions for the 2020s on the Altcoin Daily YouTube channel, CZ, he spoke at length about different aspects of cryptocurrencies.
During the nearly hour-long program, CZ said that after a long bear market, things are starting to be exciting for the crypto world.
Bitcoin has a tool that protects people over their money during this financial crisis. CZ said that more people are getting to know and learning about cryptocurrencies, however, many people still don’t know anything about it. “Bitcoin and other cryptocurrencies will be a safe haven,” added CZ.
The crypto billionaire pointed out that the stock market still affects the crypto space, as many of those who have a huge portfolio in the stock market still have crypto, and when stocks fall, they sell cryptocurrencies.
However, CZ said that in the next two to ten years, the cryptocurrency industry would see another tremendous growth.
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Binance CEO supports Bitcoin, Ethereum and Binance Coin
The CEO who joined Bitcoin in 2013 said he will not be able to comment on any cryptocurrencies, but he loves Bitcoin and Binance Coin (BNB).
He said he does not invest in any currency, but Binance maintains a collection of any currency supported by the exchange.
“So, I don’t really have a strong private preference (for cryptocurrencies), they change all the time. I support the top coin type a little more; I also strongly support Ethereum. ”
He said his reason for supporting Ethereum is that the network supports a lot of innovation in space with smart contracts, in addition, it also supports some Ethereum “copies” like Binance Chain, even though the code has been forked from Cosmos , many ideas used in the currency came from Ethereum. He said he is generally not against any digital currency.
Asked about his ideology, Changpeng said he has many friends who are libertarians and can understand his views, however, he is not so extreme. CZ says he wants a balanced view of everything, despite agreeing with many libertarian views.
“I am not against anarchists, I am not against governments, I am not against anyone.
I don’t have that kind of strong libertarian view, but I agree with many of its principles, ”he mentioned.
When questioned, CZ said that Bitcoin’s dominance will decrease over time, even if it increases in the short term. He said that there are many limitations in the Bitcoin ecosystem. However, he said that Bitcoin will not disappear, but some new ideas will overtake him in the crypto space.
Bitcoin price prediction by CZ: will Bitcoin reach $ 1,000,000?
Asked if Bitcoin will reach $ 1,000,000, the founder of Binance Exchange said he believes the price of BTC will reach $ 1,000,000 someday, however, he did not say how long it will take.
In addition, CZ said that Bitcoin is the most decentralized technology, as the founder cannot be identified. CZ mentioned as an example that if something happens to the founder of Ethereum today, the price of ETH will fall.
He said that after Bitcoin, Dogecoin is the second most decentralized technology, because the founders gave up on the project. Speaking of Decentralized Finance (DeFi), CZ believes that innovation will lead the next cryptocurrency bull run, mentioning that the lowest price for Bitcoin will be $ 3,200.