Binance founder and former CEO Changpeng Zhao (CZ) hosted an uncommon Chinese-language Ask Me Anything (AMA) livestream on Binance Square on July 23, engaging directly with the Chinese-speaking community. The event drew heavy participation and lively discussion, showcasing CZ's influence in the region.
Bitcoin Long-Term Bullish: $200K 'Just a Matter of Time'
Discussing Bitcoin's future, CZ expressed clear long-term optimism. He believes the market remains in a 'Super Cycle' with no clear price ceiling, making $200,000 'just a matter of time.' He advised investors to stay patient and avoid being swayed by short-term volatility, given the clear upward trend.
Altcoin Season Will Return: Not Just Bitcoin
On the widely watched 'Altcoin Season', CZ stated it is part of the market's natural structure and will occur again. While he couldn't pinpoint timing or leading projects, he argued that public chains, applications, and infrastructure will each have their moment, and the market won't revolve solely around Bitcoin.
Strong Confidence in BNB & BNB Chain
CZ revealed he still holds a large amount of BNB and is highly confident in BNB Chain's development. He noted the ecosystem has many capable builders and a solid moat, with room for sustained growth. He encouraged the community to 'aim higher' with their goals.
Meme Coin Warning: Don't Rely on Execs' Words
Cautioning against the meme coin frenzy, CZ repeatedly warned of high risks. He said he doesn't want the community to rely on his or other Binance executives' remarks to launch or chase meme coins, as most have short lifespans. Long-lasting meme coins need cultural context and continuous community vitality, especially from Chinese internet culture.
He also highlighted that on-chain 'scientists' (sniping bots and high-frequency traders) move far faster than retail investors, making it easy for the latter to buy high and sell low. Investors must assess their risk tolerance carefully.
Newbies: Stay Away from Contracts, Start with Spot
For investment advice, CZ strongly warned beginners against contracts or leverage trading. Such markets are extremely volatile and risky, and even small 'trial' amounts can lead to heavy losses quickly. He recommended newcomers start with spot trading, small amounts, and focus on learning market mechanics and risk management.
He also noted that Binance Square users are KYC-verified, giving the platform a stronger financial attribute. He plans to host regular livestreams on Binance Square for ongoing direct interaction.