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Former Binance CEO Revives 5-Year Bitcoin Call

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Fri, 17/05/2024 - 9:13
Former Binance CEO Revives 5-Year Bitcoin Call
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In a surprising move, the former CEO of Binance, CZ, has resurfaced on social media to remind everyone of a Bitcoin (BTC) prediction he made five years ago. CZ, who is currently serving a four-month prison sentence in the U.S., referred to a 2019 post where he predicted significant changes once Bitcoin's price surpassed $8,000. 

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With Bitcoin now trading above $66,000 and having reached highs near $74,000, his forecast appears accurate.

CZ's reappearance on social media has sparked curiosity, especially given his current legal troubles. In April, he was sentenced to four months in prison after pleading guilty to money laundering charges, following his resignation as CEO of Binance. 

The cryptocurrency exchange also agreed to a substantial fine of $4.3 billion. Prosecutors had initially sought a three-year sentence for the 47-year-old entrepreneur, making his four-month term seem notably light.

Path to the top

During his tenure, CZ was a pivotal figure in the cryptocurrency world, guiding Binance to become one of the largest and most influential exchanges globally. His decision to resurface and comment on Bitcoin's price trajectory has intrigued both supporters and critics, highlighting his continued influence in the crypto community.

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BTC to USD by CoinMarketCap

Bitcoin itself has seen monumental growth since CZ's initial prediction. The cryptocurrency boasts a market capitalization of $1.3 trillion and has established itself as a key asset on the financial market, alongside traditional investments like gold and equities.

Its integration into mainstream finance is underscored by the approval of a spot ETF on the U.S. stock market, broadening its appeal to a wide range of investors, including pension funds.

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