Binance founder Changpeng Zhao, better known as CZ, said he remains bullish on Bitcoin but rejected the idea that he has the power to move the broader crypto market. Speaking on the "When Shift Happens" podcast, Zhao addressed a post he made on Aug. 19, when Bitcoin was trading around $60,000. In that post, he wrote that if someone wanted their future self two years from now to thank them for a decision made today, they needed to act immediately. The market later took that as a hint to buy Bitcoin, and the crypto market rose about 20% in the following days.
Zhao said the interpretation overstated his influence. He said he has long been bullish on the crypto sector and that nearly all of his posts lean in that direction. Because he may post five to 10 times a day, he said it should not be surprising if one of those posts happens to appear shortly before favorable news. He added that about five hours after the post, Donald Trump delivered remarks that were relatively positive for the crypto industry and mentioned pushing Hyperliquid into the U.S. market. Zhao said he had no prior knowledge of those remarks. On Bitcoin cycles, he said the market has so far roughly followed a four-year pattern, but added that there was no reason to wait until October to express a bullish view.
Binance founder Changpeng Zhao, or CZ, said he remains bullish on Bitcoin but denied having the ability to influence prices across the entire crypto market.
Speaking on the "When Shift Happens" podcast, Zhao was asked about a post he made on Aug. 19, when Bitcoin was trading around $60,000. In that post, he said that if people wanted their future selves two years from now to thank them for a decision made today, they needed to act immediately. The market later read the message as a signal to buy Bitcoin, and the crypto market rose about 20% over the following days.
CZ rejects claims that he can move the whole market
Zhao said he does not have the power to push prices for the entire market. He added that he has consistently been bullish on the crypto industry, and that nearly all of his posts carry a bullish tone. Since he may post five to 10 times a day, he said it is not unusual that one of them would appear shortly before positive news.
He also said that roughly five hours after that post, Donald Trump made remarks that were relatively supportive of the crypto industry, including a mention of pushing Hyperliquid into the U.S. market. Zhao said he did not know the content of those remarks in advance.
According to Zhao, if he were aware of any information that could affect the market, he would avoid posting around that topic. For that reason, he said the relationship between his post and the subsequent market rise was only a matter of timing.
On Bitcoin cycles, CZ says there was no need to wait until October
On the Bitcoin cycle, Zhao said the crypto market has so far roughly followed a four-year cycle. Referring to views at the time that Bitcoin could bottom in October based on that pattern, he said there was no need to wait until October to express a bullish stance.
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