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Binance's CEO Unveils His Bitcoin (BTC) Story: "Never Sold, Doing Fine." When Did He Buy?

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Thu, 02/25/2021 - 10:34
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Vladislav Sopov
Yes, you are right, very early
Binance's CEO Unveils His Bitcoin (BTC) Story: "Never Sold, Doing Fine." When Did He Buy?
Cover image via www.forbes.com
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CEO and founder of world-leading cryptocurrency ecosystem Binance (BNB), Changpeng Zhao, told his Twitter followers a story about his first Bitcoin (BTC) purchase. Here's the recipe for success by CZ.

CZ and Bitcoin, long story short

Amidst the correction that send MSTR stocks down, the CEO of Microstrategy, passionate Bitcoin proponent Michael Saylor, shared the words of investment legend Peter Lynch, the author of One Up on Wall Street. The prominent fund manager dismissed investors that attempt to "buy the dip" amidst every correction markets that are going through.

Far more money has been lost by investors preparing for corrections, or trying to anticipate corrections, than has been lost in corrections themselves.

Mr. Saylor applied this wise motto to Bitcoin (BTC), which is also trying to recover from flash-crash. Meanwhile, Mr. Lynch actually said these words far before the massive adoption of the crypto king occurred.

At the same time, Binance's Changpeng Zhao decided to illustrate the veracity of Lynch's rule. He unveiled that he purchased his first Bitcoins (BTC) seven years ago at $400 per coin.

CZ bought Bitcoins at $400 and never sold
Image via Twitter

 Since 2014, he never sold his digital gold. CZ is satisfied by the results of his Bitcoin (BTC) strategy as he is "doing fine so far."

Time to zoom out

CZ admitted that immediately after his purchase, Bitcoin (BTC) went down to $200 and stayed around this level for many months. Therefore, he recommends that all traders "zoom out" the timeframes for analyzing the Bitcoin (BTC) price.

As covered by U.Today previously, Changpeng Zhao was among the first supporters of the "laser eyes" flashmob. Crypto Twitter "thought-leaders," Internet celebrities and politicians added "laser eyes" filters to their Twitter profile pictures.

Related
Bitcoin (BTC) $100,000 "Laser Eyes" Flashmob Supported by Elon Musk "For a Day"

The flashmob celebrated an impressive rally of the flagship cryptocurrency to $100,000 per coin. However, it failed to keep BTC from a brutal 23-percent correction and $5.4 billion in long liquidations on Feb. 22.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)