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Changpeng Zhao, the cofounder of the Binance exchange and its former CEO, frequently known simply as CZ to crypto fans, has taken to the X platform (formerly known as Twitter) to share an important post.
CZ proposes BNB and BTC as basis for Kyrgyzstan’s crypto reserve
CZ revealed that during his recent visit to Kyrgyzstan, he had proposed that the government make Binance Coin (BNB) and Bitcoin the basis for its Strategic Cryptocurrency Reserve.
Notably, a month ago, CZ accepted the invitation of the Kyrgyz President Sadyr Japarov to become a member of the country’s National Crypto Committee.
Now, CZ has helped to sign a partnership between Kyrgyzstan and Binance to help the country launch internal cryptocurrency payments.
Many countries are now considering the launch of their own Strategic Crypto Reserve, following the example of the U.S., which already has 200,000 Bitcoins for it.
Thanks to CZ’s role as an intermediary, Binance has signed a memorandum of understanding with Kyrgyzstan, and is now getting ready not only to launch crypto payments but also educational programs about blockchain and crypto in the country. The latter will be achieved by Binance Academy.
The memo was signed on April 3, according to CZ's earlier X post. CZ accepted the official invitation to join the crypto committee in Kyrgyzstan on Sunday.
CZ shares his view on gold vs. Bitcoin
Over the weekend, CZ, who is a well-known long-term supporter of crypto, Bitcoin and BNB in particular, took to social media to share his take on gold as an asset. As a crypto proponent, it looked as if he indirectly opposed Bitcoin to gold without naming BTC but naming its key feature instead — scarcity.
On May 3, CZ tweeted: “Not against gold, but it’s not a limited supply asset.” This tweet ignited Bitcoin fans among his followers, who started touting BTC as an asset with a capped supply of 21 million.
When it comes to crypto holdings, Zhao once tweeted that he only holds Bitcoin and BNB, and for this reason he in unable to buy any BTC dips — he is 100% in crypto. BNB is currently changing hands at $593, and Bitcoin is trading slightly above $94,000.
Vladislav Sopov