Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Changpeng Zhao, CZ, has taken to X to reveal that he has been facing an active attack from fudders relating to his recent crypto tweet, where he spoke about buying and then holding crypto assets.
CZ is facing a "coordinated attack" from fudders
Zhao tweeted that he has seen some “twisted FUD” on the “buy and hold” crypto tweet he issued on January 25. In it, he said that very few trading strategies he had seen over many years as the Binance CEO (now, an ex CEO), “very few can beat the simple 'buy and hold'” – the strategy CZ prefers to follow himself.
Even though CZ added a disclaimer that this was not financial advice, many began criticizing him for that X post after that.
Today, CZ clarified that this rule (“buy and hold”) does not apply to every single crypto available in the market. He hinted that buying whatever one can find can lead to a negative portfolio performance, reminding the audience that not every early Internet company was prosperous and neither is the majority of AI-focused tech startups: “If you "buy and hold" all crypto ever created, you know how your portfolio will perform.”
The majority of companies is bound to fail in every industry, CZ stated, including crypto and “the few successes will perform exponentially.”
He offered those who do not find his tweets useful simply to click the “unfollow” button: “Out of sight, out of mind.”
In a comment to a crypto fan who began to defend CZ, Zhao tweeted that he believes “There is some coordinated attack recently”, picking his tweet “as a topic”.
CZ is on top of Forbes list
According to Forbes, CZ is currently in 20th place of the world’s wealthiest people (with Elon Musk sitting in first place) with a net worth of $92.5 billion. A crypto YouTuber on X, Crypto Rover, published a tweet, reminding the crypto that CZ made his first million dollars when he was 39. He started Binance when he was 40 and in December, he turned 48.
“You’re never too old to start,” the YouTuber said encouragingly. CZ commented on that, agreeing with the “you’re never to old to start” thesis and added that the real wealth is not always about money. It also includes: “health, loved ones, time, freedom, credibility, principles, positive impact…”
Yuri Molchan
Gamza Khanzadaev
Arman Shirinyan
Alex Dovbnya