Changpeng Zhao (CZ) in an interview, gave frank insights into meme coins, volatility, and his personal investments
Crypto’s Growth
Changpeng Zhao (CZ) in an interview with AP News breaks down the current development in the crypto space and addressed the issue on crypto volatility, risk management and his personal portfolio. In answering the question whether the excitement for meme coins is a sign of a bubble, CZ points towards decentralization, the same idea that spurred the growth of the crypto space.
CZ when asked about his opinion on a soaring price on meme coin, answered – ‘To be honest, I don’t get Dogecoin. But this shows the power of decentralization. What I think may or may not matter. If a large enough number of people in the community values it because it’s cute, because they like the meme, then it has value
When asked how CZ defines a bubble, the Chief Executive Officer of Binance answered that massive volatility is not the correct measure as Amazon dropped massively and is now one of the most valuable companies in the world. The most important point lies in whether the participant understand the risks and accepts it.
Barrier to Crypto Adoption
Volatility has always been closely associated with the reason why crypto assets are unsuitable for investment. CZ gave his views on this point. Dismissing this notion, he pointed that traders sees volatility as a trading opportunity. He believes that the main hinder to growth is the ease of use. Having the right tools that is easy to use and secure can be helpful. Centralized exchanges provide custodial solutions which can still be improved as the industry evolves.
Personal Portfolio
One the questions posed to CZ was his personal investment decision. He admits that he is not the best person for investment advice, but he holds some Bitcoin from 2014 and had held onto the most of it. The sizeable crypto asset that he holds is the Binance coin (BNB) and no other coins. This is a decision to prevent potential conflict of interests.
“Personally, I’m financially free. I don’t need a lot of money, and I can maintain my lifestyle in this way. I do intend to give away most of my wealth, like many wealthy entrepreneurs or founders did from Rockefeller until today. I do intend to give away 90, 95 or 99% of my wealth.” – CZ discloses his intention on how he plans to manage his wealth.
CZ is ranked as one of the top 50 richest individual in Singapore with an estimated net worth of $1.9 billion by Forbes Magazine. He is also ranked at the fifth position on Forbes’s Crypto Rich List.
Finding the Middle Ground
CZ in the interview thinks that for a long time, the world consists of the die hard crypto fans and the majority that does not know about crypto. This is slowly changing as more people are finding the middle ground with increased adoption. This perception is slowly changing as there is greater acceptance in the public space. Athletes are seeing the value of crypto through Non-Fungible Tokens (NFTs) and regulators are seeing crypto as a means to spur economic growth.
Volatility is part of the growth in an emerging asset class. With volatility and risks, there lies opportunities. The most important thing to any crypto participant, is to understand the risks and to exercise proper risk management.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.
BSC NEWS is a private news network. All posts posted by this user belong 100% to bsc.news All rights are reserved to BSC NEWS for more information about BSC NEWS contact BSC NEWS HERE.