CZ is not worried about Tesla’s sale of BTC


Binance CEO Zhao Zhao doesn’t believe anyone who buys or sells can fundamentally affect the asset, including Tesla CEO Elon Musk. To demonstrate his confidence in the leading cryptocurrency, CZ said he still owns most of the BTC he bought when he first entered the cryptocurrency industry.

A sale that doesn’t bother CZ

Comment on Tesla’s decision to get rid of 75% of its bitcoin assets, the head of Binance met the news with ease. He claims that Elon Musk’s decision to sell or buy an asset “it doesn’t matter muchbecause his gesture is not it will not change the fundamentals of BTC.

Tesla’s CEO revealed the reasons for this sale a few days ago, noting that the company did just that. need money for factories recently opened in the US and Germany as well better cash flow to support its operations in China, severely affected by the ongoing lockdown due to Covid 19.

CZ, who has already donated $ 500 million to support Elon Musk’s ambition to take over Twitter, added that no one knows exactly why Musk sold large amounts of bitcoin, saying the richest man in the world may need the money. money to buy Twitter in the second quarter.

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About the ongoing infection that was caused multiple failures in a row, CZ explained in a previous CNBC interview that Binance “very low exposure” Troubled loan companies like Celsius and Voyager. The exchange is neither a creditor nor a debtor, he added.

When asked if Binance has analyzed the risks associated with these companies. A while ago, CZ responded with humor and explained why Binance avoids them as much as possible:

I think it’s because we are stupid. We like to keep it simple … We are an exchange, so we don’t make loans.

Binance doesn’t seem silly at all when it comes to businesscontinues to strengthen its position in Europe and around the world. The company also announced last week Exchange that holds the most BTC, ahead of its historic rival Coinbase.

CZ does not sell its bitcoins

When asked if he had sold any of his bitcoin positions in the midst of this bear market, CZ said yes. almost all the “originals” have been preserved Purchased at the beginning of my adventure and spent only “less than one percent” of the accumulated savings.

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Earlier last month, CZ said he doesn’t own a Fiat and all. All he had was a crypt – so this is the only product he uses for his life purchases.

For me, I have no dollars. I have everything in cryptocurrency. So if I have money to spend, I have to spend it somewhere. I don’t need to think about selling cryptocurrency. Cryptocurrency is my money.

Cz reaffirms its firm belief in bitcoin and all cryptocurrencies. The CEO of the world’s largest exchange has no plans to sell his BTC and still believes in it Development of digital assets in the future.

To learn more about Tesla Bitcoin’s sale and its impact on the market, check out our article here.

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