**CZ Shares Insight on Building Wealth in Crypto: Focus on Long-Term Strategies**
Changpeng Zhao (CZ), founder and former CEO of Binance, recently shared valuable advice for crypto investors on building sustainable wealth. In an X post, CZ criticized the common focus on short-term gains, a strategy often pursued by "degen" investors who chase quick profits without considering the risks, leading to significant losses.
**CZ’s Wealth-Building Tips**
CZ emphasized the importance of investing in ethical teams dedicated to developing long-term utility projects. Such teams prioritize sustainability, innovation, and real-world impact over short-term hype. He has consistently advocated for this approach, encouraging the crypto community to focus on practical blockchain applications rather than meme-driven projects.
In his tweet, CZ highlighted that "big money is built slowly with stamina," underscoring the value of patience, persistence, and a long-term strategy in wealth creation. He believes that gains accumulated over time far outweigh short-term profits, urging investors to prioritize fundamentally strong assets developed by ethical teams.
**Market Volatility and Long-Term Optimism**
CZ’s advice comes amid significant market downturns. Bitcoin recently dropped 6.91% from $86,000 to $80,052, triggering a wave of liquidations totaling $628.86 million in the past 24 hours, with $534.70 million from long positions and $94.16 million from short positions. Despite this volatility, many investors holding utility tokens remain optimistic about long-term returns.
**Disclaimer:** This content is for informational purposes only and should not be considered financial advice. The views expressed are the author’s personal opinions and do not reflect Binance’s stance. Always conduct thorough research before making investment decisions.
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