Changpeng Zhao (CZ), the CEO of Binance, the world’s largest crypto exchange by trading volume, has recently revealed that he has not sold any of the Binance Coin (BNB) and Bitcoin (BTC) in his portfolio.
CZ revealed this a few hours ago when replying to a crypto user who asked how much he has lost to the current market downturn. “Tell the truth how much [you] lost last week,” the user asked.
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CZ responded, “I still have the same amount of BNB & BTC.”
I still have the same amount of BNB & BTC.
— CZ 🔶 Binance (@cz_binance) July 6, 2022
CZ’s response to the question of the inquisitive user implies that he’s still holding the majority of his initial BNB and BTC holdings despite the current situation in the market.
It should be noted that the two top cryptocurrencies mentioned by CZ Binance in the tweet are currently down 70% and 65% from their respective price all-time highs, according to CoinGecko.
CZ Binance Bought Bitcoin (BTC) in 2014 after Selling His House
In an interview with Associated Press back in 2021, CZ Binance revealed that he joined Bitcoin (BTC) bandwagon in 2014 after selling his house.
Shortly after purchasing the BTC at around $600, the price sharply dropped to $200, but still did not sell at that time. The crypto market has seen major bull and scary bear cycles since 2014 and nothing has dissuaded the Binance boss from keeping the majority of his initial Bitcoin stash.
He also disclosed that Binance Coin (BNB) represents the majority of his net worth at that time. Additionally, he holds the largest share of the top exchange he co-founded.
According to the Bloomberg Billionaire Index, CZ is worth $18.7 billion, making him the 77th richest person in the world. Certainly, his net worth has declined due to the current situation in the crypto market.
Despite the unfavorable market condition, Zhao remains unfazed. A few days ago, he stated that it may take a few months or a couple of years, but Bitcoin (BTC) will eventually surpass its price all-time high of $69,000.