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Changpeng Zhao (CZ) has taken to X to comment on the current Bitcoin price rebound and remind the community what BTC is about.
However, while CZ remains bullish on Bitcoin’s price surge and adoption in the long term, some in the crypto community have disagreed with him, disputing his definition of BTC as a “hard asset.”
Bitcoin is hard asset: CZ; community disagrees
Changpeng Zhao posted a short tweet, reminding the community that Bitcoin was not designed for short-term trading (or trading overall), but rather as an inflation hedge during difficult economic times.
CZ believes BTC is a hard asset, along with some of the top altcoins: “Bitcoin is a hard asset. (Other top crypto too.)”
However, some commentators shared their doubts in response to his tweet, in particular stating that “hard assets don't usually fluctuate 20 percent in a week.”
Another X user wrote: “If it can lose 50% in months, calling it a ‘hard asset’ is a stretch. That’s volatility, not stability.”
Earlier this year, CZ also shared his ultra-bullish position on Bitcoin, saying he still believes it will reach $1,000,000 million, but it will likely take a long time to reach that price.
Robert Kiyosaki predicts Bitcoin "to the stars"
Robert Kiyosaki, a renowned investor and the author of the popular book on personal finance management, “Rich Dad Poor Dad,” continues predicting a new financial crisis, which he expects to happen soon and crash the financial markets.
Once it happens, he tweeted last week, Bitcoin, Ethereum, as well as gold and silver are “going to the stars.” Kiyosaki’s concept is that the best time to get wealthy is during market crashes, when “real assets,” like Bitcoin and gold, go “on sale” and skyrocket in price afterwards.
Also, last week, Kiyosaki predicted that Bitcoin would surge to $750,000 per coin a year after the crash he foresees. Ethereum would go as high as $95,000, gold to $35,000 and silver to $200 per ounce.
Bitcoin pulls back to $68,000
Today, the world’s largest cryptocurrency has slipped below $70,000, reaching $68,000. The price drop over the weekend amounted to 3.35% as Bitcoin reacted to hawkish signals from the Federal Reserve and escalating tensions in the Middle East.
This situation has hit the broader crypto and stock markets, pushing asset prices down.
Dan Burgin
Vladislav Sopov
