Changpeng Zhao, former chief executive officer at cryptocurrency exchange Binance, has revealed that he does not trade much despite being at the helm of the trading juggernaut for years.
"I don't trade much at all. I spend crypto, and where I need to spend fiat, I convert what I need to spend. The rest is in crypto," he said in a recent post on the X social media platform.
The highly influential crypto luminary previously recommended that crypto market participants adopt a long-term view instead of focusing on short-term market noise. Annual charts tend to smooth out such noise, according to CZ. After Bitcoin recently surged to a new record high, CZ said that he actually felt "sorry" for those who sold at the $77,000 level.
Last month, the Binance exec opined that too much money was being spent chasing quick gains. However, he stressed that big money actually has to be built with stamina.
He also urged cryptocurrency investors to manage risk, warning them against jeopardizing their lifestyle with poor investment decisions.
Earlier, CZ revealed that he personally holds such cryptocurrencies as Binance Coin (BNB), which constitutes the vast majority of his holdings, as well as Bitcoin and some stablecoins.
CZ is believed to control roughly 64% of the total supply of the BNB token, which is currently the fifth-largest cryptocurrency by market capitalization, according to CoinGecko data.
The former Binance boss previously recommended that his followers diversify their investments despite being all-in on BNB.
According to Forbes's estimate, CZ's current net worth stands at $65.1 billion, which makes him the richest known person in crypto.
Dan Burgin
U.Today Editorial Team
