For the first time in two weeks, Changpeng Zhao (CZ), the founder and former CEO of the popular cryptocurrency exchange Binance, published a tweet, reminding everyone that Bitcoin (BTC) is back.
CZ Breaks Silence
Since CZ stepped down as CEO of Binance in November 2023, he has been almost silent on X with only a few posts unrelated to bitcoin. But, observing the pump in bitcoin price over the past few days as it attempts to beat its previous all-time high he has broken the silence.
In a tweet earlier today, the Binance founder simply quoted an older tweet of his from September 2022. Following the bitcoin fall below $19k in September 2022, there was a Bloomberg post saying that bitcoin looks like a faded fad. CZ, who has always been bullish on BTC, takes a screenshot and saves the post for future reference. Amidst the bitcoin pump this week, he has just referred to that post. The current jump in bitcoin price speaks against the content of that post.
In connection to the same tweet, he referenced another post from a Bloomberg article posted in December 2018 referring to bitcoin as a bubble that has popped due to its crash in price by around 80%. The post countered bitcoin, mentioning that it has various limitations including volatility which makes it an unreal asset to invest in.
Analyzing losses encountered by various investors who bought at the top, the post says “There is no obvious reason why it made sense for the world to believe that bitcoin was the currency of the future.” CZ referred to the post to remind haters what they have said years back and prove that he still believes in bitcoin as a good long-term store of value.
Bitcoin Continues Bullish Trend
When CZ shared the tweet, bitcoin was trading at about $68,000 with a market cap of over $1.3 trillion which is higher than many fiat currencies and popular world companies.
Currently, the bullish trend continues as bitcoin still trades between $67,000 and $68,000. BTC is just less than $1k away from its previous all-time high of $69,000 and creating a new high in its history.
