#BTC120kVs125kToday đ¨Binance Founder: âDon't get excited about the current historic high of Bitcoinâ
đBinance Founder: âDon't get excited about the current historic high of Bitcoinâ
â¨ď¸For the businessman, the current value may be a fraction of the price of Bitcoin in the future
The founder of Binance, Changpeng Zhao (CZ), vented to his more than 10 million followers on social media X that they should not get too excited about the current historic high of Bitcoin, which broke consecutive barriers reaching US$ 123 thousand on July 14.
This is because he remembers his past as an investor who bought at the top of a market cycle back in 2014. At that time, CZ recalls that he bought each Bitcoin in his portfolio for the price of 1 thousand dollars (yes, many question what they were doing when they missed such an opportunity).
After the acquisition, the market melted down and the price of Bitcoin only returned to reach CZ's entry mark in 2017. He remembers that in that year, Bitcoin started to soar in the market, when it reached 20 thousand dollars.
đ¨Currently, he recalls that US$ 1 thousand is worth less than 1% of the price of Bitcoin, which was quoted on Wednesday (16) at US$ 119 thousand per unit.
Thus, CZ vented to those who are in a hurry to sell at the current peak that the market price of Bitcoin is just a fraction of what it could be one day in the long term.
âAfter I bought Bitcoin in 2014, it took 3 years to reach an ATH of US$ 1.000 again in January 2017. We were excited. Now, this is just a small fraction, less than 1%. Today, you may be excited about the current ATH. In a few years, this will be just a fraction,â said CZ on his account on X.
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