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The fortune of Binance CEO Changpeng Zhao has dropped by $85 billion since its peak in September 2021. Despite that, the billionaire is still determined to hold the two cryptocurrencies BTC and BNB for the hope of future price increases.
In a recent tweet, CZ revealed that it hasn’t sold any coins yet Bitcoin (BTC) or Binance Coin (BNB) How to express your strong beliefs. According to data provided by CoinGecko, the prices of BTC and BNB have fallen by 70.7% and 65.86% respectively from their all-time high (ATH).
In an interview with the Associated Press in 2021, CZ stated that he bought a large amount of Bitcoin in 2014 after selling his house. BTC price dropped from $600 to $200 shortly after buying, but he didn’t sell any at the time. Although BTC has gone through a number of boom cycles, CZ still manages to keep most of his original BTC.
CZ also said that BNB, the native token of Binance exchange with top trading volume, accounted for most of its net worth at the time. In addition, he is also the founder and one of the largest shareholders of the exchange.
According to the Bloomberg Billionaire Index, CZ’s net worth is currently $10.2 billion, making him the 77th richest person in the world. This is down from $95.8 billion from November 2021, and $77 billion was lost in July alone as the crypto market fell into disrepair.
However, CZ remains unfazed by the bear market. Last month, he predicted BTC is likely to regain the $70,000 mark “within months or years.”
CZ also predicts that the CEO of MicroStrategy, Michael Saylor, whose company is currently suffering huge losses due to the dramatic slide in the BTC price, will finally reap the rewards after much bitterness.
As of press time, Bitcoin is trading at $21,671, up 5.18% within 24 hours. Meanwhile, BNB is trading at $241.65, up 1.15% within 24 hours.
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