Ex-Binance CZ Issues Crucial Bitcoin Warning, Michael Saylor Responds

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As an analyst with over two decades of experience in the financial industry, I find the recent statements by Changpeng Zhao (CZ) and Michael Saylor about Bitcoin intriguing. Having witnessed the rise and fall of numerous cryptocurrencies since the early days of Bitcoin, I can appreciate the significance of their comments.

The renowned figure Changpeng Zhao (frequently referred to as CZ), who co-founded, shaped the ideology, and previously served as CEO of the world’s biggest cryptocurrency exchange Binance, has issued a significant Bitcoin statement, issuing a strong caution to the crypto community.

In simpler terms, the founder of MicroStrategy, Michael Saylor – known for his strong support of Bitcoin – replied in agreement with CZ’s stance regarding Bitcoin.

CZ highlights Bitcoin’s chief feature – scarcity 

Crypto leader Changpeng Zhao emphasized to the digital currency community that Bitcoin, the first and most valuable cryptocurrency in terms of market capitalization, was designed by Satoshi Nakamoto with a maximum supply of only 21 million units.

CZ warned Bitcoin enthusiasts that 19.8 million Bitcoins have already been minted. Bitcoin is “controlled by math,” he tweeted, hinting that in this respect BTC leaves fiat currencies far behind and not a single Fed Reserve or another central bank would ever be able to mint more Bitcoins when 21 million of them are mined.

Saylor engages in Bitcoin talk with CZ

In response to CZ’s tweet, MicroStrategy’s founder and Bitcoin advocate, Michael Saylor, commented by saying, “I’m running low on Bitcoin,” which further emphasizes the finite amount of Bitcoin that will ever be available for circulation.

Running (out of) #Bitcoin

— Michael Saylor⚡️ (@saylor) December 10, 2024

This week on Monday, as reported by U.Today, MicroStrategy’s company announced another large Bitcoin purchase amounting to approximately 21,550 BTC, which is equivalent to a value of $2.1 billion. Currently, the company has amassed a total of 423,650 Bitcoins, with a combined worth of around $41.44 billion.

On the very same day, Michael Saylor appeared live on X alongside the founder of Barstool Sports, Dave Portnay. During this appearance, Saylor advocated for Bitcoin, making a compelling case as to why Portnay ought to join the “Bitcoin Team”.

CZ denies making much money on BTC $100,000 surge

Not too long ago, when Bitcoin, the world’s leading cryptocurrency, crossed the $100,000 threshold for the first time ever, causing crypto enthusiasts to celebrate and influencers to congratulate their followers, CZ posted a humble message on his social media platform.

In this article, it was disclosed that the significant increase in Bitcoin’s value didn’t result in substantial earnings for the influencer: “Someone asked if I made a fortune with Bitcoin, and I replied, not quite.

CZ admitted that he still holds “the same number of Bitcoins,” apparently hinting that he had not been buying more BTC on dips recently. He also made an observation about the altcoin market, saying: “It’s just that everything else became a little cheaper, relative to Bitcoin.”

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2024-12-10 17:27