Changpeng Zhao "Peter Schiff's Bitcoin (BTC) predictions were correct in only 1% of the 16 years"
JH Kim
Summary
- Changpeng Zhao, the founder of Binance, said that only 1% of Peter Schiff's criticisms of Bitcoin (BTC) were correct during Bitcoin's 16-year history.
- Changpeng Zhao said that during that period Bitcoin's price rose from $0.004 to $110,000.
- The remarks are interpreted as aiming to emphasize BTC's long-term performance amid the debate over gold and Bitcoin as stores of value.
Changpeng Zhao (CZ), the founder of Binance, directly rebutted Peter Schiff, a prominent advocate of gold investment, who criticized Bitcoin (BTC).
On the 16th (local time), Changpeng Zhao posted on X(formerly Twitter), "Only 1%(about two months) of Bitcoin's 16-year history was a time when he was right," stating, "During that period, Bitcoin rose from $0.004 to $110,000."
Earlier, Peter Schiff had argued, "The recent sharp rise in gold prices proves that Bitcoin is not 'digital gold'," and "Bitcoin could collapse at any time, and this bear market will be very brutal."
Changpeng Zhao's remarks are interpreted as an attempt to emphasize BTC's long-term performance amid the renewed debate over gold and Bitcoin as stores of value.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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