Binance CEO admitted his investment portfolio isn’t very much diversified: Only BNB and…
Changpeng Zhao (CZ), CEO of the world’s largest cryptocurrency exchange, Binance, has revealed that while he doesn’t own other altcoins, he has been a Bitcoin owner since 2014.
Binance CEO owns only Bitcoin (BTC) and Binance Coin (BNB)
In a recent interview with the Associated Press, CZ noted that even though a significant percentage of his net worth is made up of his Binance Coin (BNB) holdings, he still has some BTC that he bought a few years after Bitcoin launched. So, in addition to BNB, CZ currently has a personal Bitcoin vault in his portfolio.
Changpeng Zhao (CZ), CEO of the world’s largest cryptocurrency exchange, Binance
Binance CEO admitted that he bought an undisclosed amount of the leading cryptocurrency in 2014. Although he spent some of it over the years, he noted that he kept most of it until nowadays.
“I bought some Bitcoin in 2014. I spent a little bit of it over time, but I held onto most of it. I did not sell,” he said.
Despite various events in the crypto space over the past seven years, with BTC price notching a new all-time high (ATH), CZ maintains a relatively strong stance on its BTC investment decision.
Surprisingly, despite being the CEO of the largest cryptocurrency exchange and interacting with many crypto projects, CZ admits his portfolio is not very diversified. CZ revealed that he does not hold any coins other than the Bitcoin he bought seven years ago and holds his BNB, which makes up most of his portfolio. He also noted that he has no personal equity in any crypto and non-crypto projects, aiming to avoid any potential conflicts of interest.
“I don’t hold any other coins… I do not own equity in any other project, crypto or not crypto. I do this very deliberately because I don’t want any potential conflicts of interest”, he added.
In recent months, Binance has received numerous warnings and sanctions from various financial regulators globally.
Binance Coin (BNB) failed to hit an all-time high (ATH) of $692 and made a lower high, followed by a rapid price drop. After breaking out of the green pennant, BNB rallied nearly 50%, but the momentum wasn’t enough to take it above all-time highs. Bears joined earlier and pushed the price below the $600 support, currently acting as resistance. If the price continues to decline, BNB can find good support at $516.
BNB is in a downtrend, and the best bet for the bulls right now is for the price to consolidate around the support at $516. It is important to be patient and wait for the bears to show exhaustion before considering further moves.
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