Changpeng Zhao (CZ), the former CEO of Binance, advised people to control their greed amid the recent spike in cryptocurrency prices and to be prepared for possible downturns in the market. The current trade price of Bitcoin is $76,428, showing a 9.88% increase over the last 7 days.
The current trade price of #Bitcoin $76,433 pic.twitter.com/tdkVpP9FyZ
— Bitcoinik (@Bitcoinikdotcom) November 9, 2024
Today, Bitcoin’s price reached another all-time high of $77,209. According to a top crypto analyst, if Bitcoin can maintain a price level above $71.5K, it may potentially reach $85,360.
If #Bitcoin $BTC maintains support above $71,489, the next local top could be around $85,360, based on the MVRV Deviation Pricing Bands. pic.twitter.com/ilvzI5iNPO
— Ali (@ali_charts) November 7, 2024
Amid the excitement over Bitcoin’s rise, Binance co-founder Changpeng Zhao (CZ) said that it is “just beginning.”
As #bitcoin make successive new all time highs, apply proper risk management. There will be many dips (and highs) in the future. Make sure you can handle them. Control your greed. Don't put all your eggs in one basket. Ape slowly. https://t.co/lSfLHbj7go
— CZ 🔶 BNB (@cz_binance) November 8, 2024
In another tweet, CZ advised his followers to be cautious, consider both scenarios, and follow basic investment principles. He mentioned that while Bitcoin might see significant highs, investors need to remember that price drops can also occur. Furthermore, CZ suggested not keeping all their investments in a single crypto asset.
As #bitcoin make successive new all time highs, apply proper risk management. There will be many dips (and highs) in the future. Make sure you can handle them. Control your greed. Don't put all your eggs in one basket. Ape slowly. https://t.co/lSfLHbj7go
— CZ 🔶 BNB (@cz_binance) November 8, 2024
Changpeng Zhao’s Crypto Holdings
Just a month ago, CZ completed a jail sentence due to reportedly providing crypto services in the US without being registered with the corresponding regulatory bodies. In the past, CZ stated that he doesn’t like meme crypto tokens and prefers Bitcoin and Binance Coin (BNB) as his main holdings.
CZ reportedly holds around 64% of the circulating supply of Binance Coin (BNB), roughly 94 million BNB tokens. With current market values, this stake is worth over $56 billion, making it a significant part of his wealth and placing him among the world’s wealthiest individuals, with an approximate net worth of $61 billion. Additionally, he holds a substantial stake in Bitcoin, though the exact amount remains undisclosed.
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