![]() ![]() After investing $1 million, the value of Bitcoin dropped by 70%. When I came across Bitcoin, I knew it was gonna stay” When you first used social media, you just knew. “When I first used email, I knew it was gonna stay. CZ likened Bitcoin to email and social media. ![]() His conviction about Bitcoin was premised on the fact that it was new and he recognized it as the future of money when many people were not aware of its existence. The Binance founder now lives in Dubai where his company operates from. He called it an opportunity of a life-time considering that few people actually knew about Bitcoin then.ĬZ, who was born in China, grew up in Vancouver Canada. Even though people thought that he was crazy, CZ was convinced that this is the future. The fund he realized from the sale, $1 million, was invested into Bitcoin. Investing in His ConvictionĬZ sold his apartment in Shanghai and quit his job. Yassin said that CZ was very convinced that Bitcoin is the future of finance and acted on his belief in a manner that even his closest friends and family were shocked. The document, also known as the Satoshi Whitepaper,enabled him to know more as he read every word. Getting home that day, he downloaded the 9-page Bitcoin whitepaper. CZ said that he found even the name, Bitcoin fascinating. The name sounded really good according to the report. Even though Zhao hadn’t, he liked the sound of the “internet money”. According to him, during one of their numerous poker games, a friend asked if they had heard about “the Bitcoin”. The program uploaded by the channel on May 5 shared the story behind CZ success in crypto.Īccording to CZ, he came across Bitcoin in 2013 while playing poker with his friends. That was the opening statement of Nuseir Yassin, the anchor and host of Nas Daily, a motivational Youtube channel that hosted Changpeng Zhao, the CEO Binance. Liquidity is very weak”, he concluded.“He made over $60 billion, but his mom still called him stupid.” “I don't invest in houses, I wouldn't buy a house right now. Now a millionaire, CZ revealed that he doesn't even think about doing the opposite and using his cryptoactives to buy a house. “99% of my assets are in cryptocurrency and it's all in BNB and a small fraction of it in bitcoin,” he said. However, the financial difficulty, according to CZ, did not make him sell his Bitcoins.Īccording to the CEO, most of these bitcoins are with him until today. Everyone went through this phase.” CZ held Bitcoin In 2001, when the dot-com bubble burst, Amazon, eBay and even Google also lost 98% of their value. But I couldn't see why I was wrong, because I thought it was the future. Was everyone wrong or was I just wrong? I'm probably the one wrong. These developments forced CZ to return to work for traditional banks. However, in contrast, Bitcoin saw its price plummet in a sharp correction that caused the cryptocurrency to retreat more than 30% of the entry price of CZ. The house CZ sold doubled in value due to developments that took place in the region. Therefore, he saw in Bitcoin the opportunity that he lacked to take risks.īut the bet didn't work out very well at first. He was young and hardly had much money, but a willingness to be an entrepreneur. CEO lost 30% of his house money with Bitcoin crashĪccording to CZ he didn't think much at the time about what he was doing. “As I was leaving the airport after the meeting, I said that I would sell my house and buy bitcoin, and that I would quit my job and join 100% of the industry, whatever it was,” he revealed. So he risked everything he had by selling his house in Shanghai to buy Bitcoin. So, after that moment, the future CEO of BInance understood that there was an opportunity for growth there. These people have no intention of stealing money or doing wrong things,” thought CZ. He said no, you can keep it and use it to teach someone else. After learning, I said I would transfer the coins back to him. At that time, a man transferred me some coins to teach me how to use my wallet. ![]() “When I went there, I found that these people were very sincere and hardworking. So, he went to a conference in Las Vegas, where all the big names in the industry at the time were. However, the entrepreneur he argued that for the BTC to work it would need a community supporting and driving the adoption of the cryptocurrency. He took the BTC whitepaper and found the idea very interesting. As revealed, his first contact with Bitcoin was in 2013. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |