Summary
- Binance CEO Richard Teng described the recent cryptocurrency market correction as a 'strategic retreat' and predicted long-term growth.
- Teng stated that pro-cryptocurrency policies in the United States and the government's Bitcoin reserves will drive industry growth.
- He said we are moving beyond regulatory hostility toward a new era of cryptocurrency acceptance.
Binance CEO Richard Teng stated that "the recent cryptocurrency market correction is merely a 'tactical retreat.'"
In an interview with CNBC on the 13th, Teng said, "No asset class can be free from macroeconomic variables," making this statement. He added, "Pro-cryptocurrency policies from Washington and pro-cryptocurrency personnel in the Trump administration will become powerful growth drivers in the long term."
He also mentioned the United States' strategic cryptocurrency reserves. Teng said, "It's a groundbreaking event for the world's largest government and capital market to hold Bitcoin (BTC) as a strategic reserve asset," adding that "other governments will also consider stockpiling cryptocurrencies, especially Bitcoin." He continued, "We are moving from a period where regulatory authorities were hostile toward the (cryptocurrency) industry to a new era where the world's largest economy declares 'we will embrace cryptocurrencies.'"
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
