Changpeng Zhao, founder and CEO of Binance, declared that he prefers to acquire cryptocurrencies rather than fiat money. He named Bitcoin as one of his favorites and specified his crypto assets preference when acquiring goods. Zhao stated that he values liquidity much more than owning something.
He noted that various cryptocurrencies now account for almost 100% of his total net worth. Zhao does not own any real estate, and the physical things he holds are negligible in terms of his net worth.
Binance CEO stated that it took him a while to grow his crypto portfolio. After buying his first Bitcoin, he was in a hurry to sell his apartment he purchased in 2006 in Shanghai.
According to the Hurun Research Institute data, Zhao is one of the world’s richest men in industry and blockchain cryptocurrencies. He is the third richest crypto billionaire, with a total wealth estimated at $8 billion as of January 2021.
Bitcoin’s price shows a downtrend today. Likewise, the rest of the cryptocurrencies decreased in their value.
Bitcoin is trading at $56,000, with a decline of 3.50% in the last 24 hours.
A large number of sales increased the available supply of Bitcoin in the market.
However, analysts and enthusiasts point out that these types of fluctuations are typical within this market. The price may fall in the next few hours. However, they still think this could be a setback in the face of the subsequent all-time highs of the digital currency in the coming weeks/months.
The fall of Bitcoin also took effect on the leading altcoins in the market.
Ethereum, Ripple’s XRP, Polkadot, Uniswap, Litecoin, Bitcoin Cash, Stellar, Filecoin, TRON, Terra, EOS, BitTorrent registered especially noteworthy falls. They capitalized losses between 4% and 15%.
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