Binance founder Changpeng Zhao said on the "When Shift Happens" podcast that he remains consistently bullish on Bitcoin and the wider crypto sector, while rejecting the idea that he has the power to move prices across the entire market. Zhao was asked about an Aug. 19 post he made when Bitcoin was trading around the $60,000 range. The message was widely read by the market as a hint to buy Bitcoin, and the crypto market then rose about 20% over the following days.
Zhao said the timing did not mean his post drove the rally. He argued that he has always posted with a bullish bias toward crypto and that he may publish five to 10 posts a day, so it was not surprising that one of them happened to appear before positive news. He added that roughly five hours after the post, Donald Trump delivered remarks that were positive for the crypto industry and mentioned bringing Hyperliquid into the U.S. market. Zhao said he did not know the content of that speech in advance.
He also said that if he ever had market-moving information, he would avoid posting around it. On Bitcoin cycles, Zhao said the crypto market has so far roughly followed a four-year pattern, but he saw no reason to wait until October to express a bullish view.
Binance founder Changpeng Zhao said on the "When Shift Happens" podcast that he remains bullish on Bitcoin, while denying that he has the ability to influence prices across the entire crypto market.
Zhao was responding to questions about a post he made on Aug. 19, when Bitcoin was trading around the $60,000 range. In that post, he said that if someone wanted their future self two years from now to thank them for the decision made today, they needed to act immediately. The market read that message as a hint to buy Bitcoin, and the crypto market went on to rise about 20% in the following days.
Zhao said he does not have the power to push the whole market higher. He added that he has long been bullish on the crypto industry, that nearly all of his posts carry a bullish tone, and that he may post five to 10 times a day. Given that pattern, he said it was not unusual for one post to appear shortly before favorable news.
He also said that about five hours after that post, Donald Trump made remarks that were relatively positive for the crypto industry and mentioned bringing Hyperliquid into the U.S. market. Zhao said he did not know in advance what Trump was going to say. He stressed that if he had any information that could affect the market, he would not post around that topic. In his view, the post and the subsequent market rally were only coincidentally close in timing.
On Bitcoin cycles, Zhao said the crypto market has so far broadly followed a four-year cycle. Some people had used that framework to estimate that Bitcoin might bottom in October, but Zhao said he saw no need to wait until October to express a bullish stance.
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