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CZ Zhao made light of the fact that he lacked the intelligence to engage in ventures closely related to failed lending institutions like Celsius and Voyager.
Even Tesla CEO Elon Musk, according to Binance CEO CZ Zhao, does not believe that purchasing or selling Bitcoin may have a fundamental influence on the asset. CZ claimed he is still retaining the majority of the coins he purchased when he was just getting started in the business to show his confidence in the main cryptocurrency.
Regarding Tesla’s Bitcoin Drop
The Binance CEO responded to Tesla selling off 75% of its bitcoin holdings by claiming that Elon Musk’s choice, whether to purchase or sell the asset, “does not signify much” because his action won’t alter the fundamentals of BTC.
The firm required money for the recently established plants in the US and Germany, as well as stronger cash flow to assist its companies in China, which were severely hurt by the prolonged Covid-19 closure in Q2, according to the Tesla CEO, who explained the reasons behind the dump days ago.
The Binance CEO responded to Tesla selling off 75% of its bitcoin holdings by claiming that Elon Musk’s choice, whether to purchase or sell the asset, “does not signify much” because his action won’t alter the fundamentals of BTC.
The firm required money for the recently established plants in the US and Germany, as well as stronger cash flow to assist its companies in China, which were severely hurt by the prolonged Covid-19 closure in Q2, according to the Tesla CEO, who explained the reasons behind the dump days ago.
When asked if Binance had recognized the hazards associated with these companies in the past, which would have explained why the exchange avoided them to the greatest extent feasible, CZ responded:
“I think because we are dumb. We like to do things in a simple way… We are an exchange and that’s why we are not in the loan business.”
I Don’t Trade In Bitcoin
When questioned about whether he had sold any of his bitcoin holdings during the bear market, CZ said that he had maintained virtually all of the “original ones” he had purchased at the start and had just “less than a single percentage” of the amassed stockpile been spent.
CZ asserted earlier this month that he has no fiat and just crypto, and that this makes it the only asset he utilizes to make purchases in daily life.
“For me, I don’t have dollars. Everything I have is in cryptos. So when I need to spend money, I need to spend some parts of it somewhere. For me, I’m all in cryptos. I don’t have to think about selling crypto. Crypto is my money.”
