Changpeng Zhao, the Chief Executive Officer (CEO)of Binance (the largest digital currency exchange in the world in terms of trading volume), has claimed in a recent statement that he views Bitcoin (BTC), the biggest cryptocurrency in the world by market value, as a less volatile asset than that of stocks of the two famous firms Tesla and Apple.
Volatility Is Everywhere, Says Changpeng Zhao
The leading crypto exchange Binance’s chief executive officer Changpeng Zhao (CZ), appeared in an interview today on Monday, the 3rd of May, with Bloomberg TV where he talked about the volatility of cryptocurrencies and Bitcoin and drew a comparison between the cryptocurrency market and the stock market based on volatility.
According to the CEO of Binance, the prices of stocks of the world’s two famous companies Tesla and Apple, are more volatile than that of the leading digital currency, Bitcoin. He said that the volatility is not only present in the cryptocurrency market. Rather, it is everywhere, and it is more in the stock market than it is in the digital currency market.
While discussing the crypto market volatility, Changpeng Zhao said:
“There’s always a large number of people having the herd mentality than the guys who actually do serious research…Whenever there is some negative news, they [herd followers] run away, whenever there’s positive news, they try to rush in and so they do cause more volatility.”
"There's always a large number of people having the herd mentality than the guys who actually do serious research."@cz_binance, founder of the world’s largest cryptocurrency exchange Binance, discusses volatility of #cryptocurrency markets on @BloombergTV pic.twitter.com/UAT4Kpy1tu
— Bloomberg (@business) May 3, 2021
CZ also revealed his true stash that he has in cryptocurrencies. Back in the month of April, he claimed that he is currently having around 100 percent of his total net worth in digital currencies.
The cryptocurrency market is once again going bullish as the global market cap is now increasing up with a change rate of 2.92 percent over the last day.