Bitcoin, the largest cryptocurrency by market capitalization gets famous as each day passes, and its maximalists have not relented in campaigning in order to push for its adoption. Sometimes, the campaign comes with overblown hype, which some view as reckless, while others see it as needful.
In this regard, the recent hype of Bitcoin economical capability came from the founder and CEO of Binance, Changpeng Zhao, as he claimed that owning 1 BTC makes the holder 3 over 1000 richest in the world.
Investors and traders of cryptocurrency, especially Bitcoin are on the increase every day. However, little part of the world’s populace has any ground knowledge about the functionalities and benefits embedded in BTC.
Many in some parts of the world still tag Bitcoin’s investment and trading as Ponzi scheme that would adversely boomerang eventually on both retail and capital investors. Others also see the digital currency as a commodity that gives room for market price manipulations, especially when Whales pump and dump for personal gains.
In spite of the play down against Bitcoin, some remain an avid supporter of BTC, foreseeing that there is huge hope for the digital currency, with belief that it will be a generally acceptable money in the awaiting digitalized world.
In the first two years of Bitcoin’s emergence, it traded as low as $100 per 1 BTC, before it started skyrocketing subsequently. Today, the BTC now trades around $10,000, making the sparse number of early and resolute believers in the digital currency millionaires.
The quantity of Bitcoin available for approximately 7 Billion people in the world is 21,000 BTC, there is possibility for more adopters in the nearest future, which would cause scarcity and aid the digital currency to notably add more values in the long run. At press time, BTC is trading at $10,080.89, with about 1% price increase in the last 24 hours.
CZ Binance Believes Owing 1 BTC Makes the Holder 3/1000 Richest Person in the World
Changpeng Zhao, the founder and CEO of Binance exchange, who also founded Binance Coin (BNB), is an obvious fan of Bitcoin. However, his support for BTC adoption can be attributed to the teeming customers that trade the cryptocurrency on his exchange.
In CZ’s recent campaign for Bitcoin, he pointed to the possibility of 1 BTC holder in making 3 over 1000 richest in the world. A term he attributed to the most popular and largest digital currency.
Read his statement below:
“If you own 1 BTC, you are mathematically guaranteed to be top 3/1000 richest in the world, in BTC terms. (21m / 7B).”
Contrary Response to CZ Binance’s Sentiment from another Famous Figure
Ali Alexander, a political consultant and Bitcoin advocate concisely responded to CZ Binance’s sentiment about the ability embedded in Bitcoin to make its investors join the sphere of world’s richest personalities.
Alexander termed CZ’s statement as reckless with few seemingly undisputable facts.
He said “I’m a Bitcoin advocate and telling people that is reckless. 1) Not all people will own Bitcoin. Dividing it by 7B people is a random number. 2) Assuming stakeholders now remain the stakeholders, Bitcoin never reaches adoption. Be more mature.”
I’m a Bitcoin advocate and telling people that is reckless.
1) Not all people will own Bitcoin. Dividing it by 7B people is a random number.
2) Assuming stakeholders now remain the stakeholders, Bitcoin never reaches adoption.
Be more mature. $BTC
— Ali Alexander (@ali) August 25, 2019