Binance CEO Tells Bloomberg Crypto Prices Will Go Higher
Binance CEO Changpeng “CZ” Zhao had the opportunity Friday to share his crypto market expertise with the mainstream finance community. In the interview with Bloomberg, CZ touched on a number of areas, including the Chinese blockchain adoption and the global regulatory landscape.
When discussing Chinese President Xi Jinping’s recent push to accelerate the development and adoption of blockchain technology in the country, CZ emphasized just how bullish this is for the overall market.
“China’s comments are about blockchain technology but you can’t learn about blockchain technology without learning about cryptocurrencies, so I think we will see a lot more people who understand Bitcoin, Ethereum and other cryptocurrencies,” he explained to Bloomberg.
Despite China’s warming attitude, CZ denied rumors that Binance is opening a Beijing office, chuckling when the question was asked. Although the expansion rumors may be false, the exchange has started offering over-the-counter yuan trading in China.
CZ also touched on Binance’s role in the global regulatory environment, noting that the company is working with several governments and will continue to do what it can to push forward adoption while creating products that users actually want. In regards to Facebook’s (FB) Libra, he stated that the exchange is taking a wait-and-see approach in terms of listing the cryptocurrency (should it actually launch), based on user demand and other factors.
Over the long-term, CZ says that investors will likely be rewarded with higher crypto prices as the underlying technology continues to improve and the industry gains further adoption.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.