Binance CEO: All My Money Is In Crypto, I Don’t Have Dollars

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The CEO of Binance cryptocurrency exchange, Changpeng Zhao also known as CZ revealed that he holds no fiat and all his holdings are in cryptocurrencies. I Don’t Have Dollars: CZ Appearing in an interview with CNBC, Zhao insisted that the crypto space will continue growing despite the recently rising volatility. He also explained that cryptocurrencies can serve both as an investment as well as a currency while revealing that he even used them to buy Burritos. Would you use #Bitcoin or another #cryptocurrency to buy a burrito? @BeckyQuick asks @cz_binance: pic.twitter.com/lYWmGRjuCu — Squawk Box (@SquawkCNBC) June 2, 2022 Furthermore, CZ went on to say that he holds no fiat and all he has is cryptocurrencies. “For me, I don’t have dollars. Everything I have is in cryptos. So when I need to spend money, I need to spend some parts of it somewhere. For me, I’m all in cryptos. I don’t have to think about selling crypto. Crypto is my money.” According to him, cryptocurrencies are much more suitable than fiat for cross-border payments as it is much cheaper and faster. Particularly, in terms of crypto donations, CZ opined that digital assets are a better alternative because it allows a small donated amount to be transferred, a feature currently not available for the traditional payment system. Lastly, at the end of the interview, he compared the crypto markets to stock markets, saying: “There are a lot of people trading on the volatility of crypto. That’s the same to the stock market some people trade and some people build.”

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Time Stamp: June 3, 2022