Changpeng Zhao, founder and CEO of the most important world cryptocurrency trade, Binance, and one of many world’s high crypto billionaires, doesn’t personal a lot besides crypto.
“I’m a kind of guys who worth liquidity rather more than proudly owning one thing. I truly choose to not personal something,” Zhao stated in a Bloomberg interview on Wednesday.
He famous that varied cryptocurrencies like Bitcoin (BTC) now make up practically 100% of his total internet price as he doesn’t personal any actual property or a lot fiat holdings. When requested how a lot of his internet price is invested in crypto, Zhao stated:
“I might say in all probability near 100%. I don’t personal any fiat, the bodily stuff that I personal might be negligible when it comes to my internet price. So this can be a idea shift. I’m not utilizing crypto to purchase fiat, I’m not utilizing crypto to purchase homes. I simply need to hold crypto. And I don’t plan to transform my crypto into money sooner or later.”
Zhao stated that it took him some time to ramp up his crypto portfolio. After shopping for his first Bitcoin, the CEO was in an enormous hurry to promote his condominium that he purchased again in 2006 in Shanghai. “I bought my condominium to purchase Bitcoin, and I additionally stop my job,” he stated. ”You possibly can hire an condominium or keep in a lodge — that provides you a lot increased liquidity,” Zhao added.
The Binance CEO has beforehand claimed that he doesn’t maintain any fiat currencies. “I maintain zero fiat,” Zhao declared on Twitter in February, stating that he solely converts crypto to fiat for funds that may solely be made with conventional cash.
Based on information from China’s Hurun Analysis Institute, Zhao is without doubt one of the world’s richest males within the crypto and blockchain business, ranked the third-richest crypto billionaire with a complete wealth estimated at $eight billion as of January 2021.