Binance CEO Predictions: Government Investments in Bitcoin in 2023
Chang Peng Zhao, CEO of Binance, believes 2022 was a very bad time for digital currencies and hopes this space will grow again in the coming years. According to Reuters, during the new event of the Binance exchange held in Athens, Greece, Zhao said that instead of dealing with digital currencies, there should be legislation for this. According to him, this is a better option for governments worldwide, as digital currencies become more widespread.
Following the fall of many active groups in this field, including the recent fall of the “FTX” exchange, the discussion of digital currency legislation has received more attention than before.
Zhao said:
I think most governments now understand that the adoption of digital currencies is inevitable and will happen in the future. So it is better to legislate for this industry instead of fighting it.
After withdrawing 6 billion dollars of assets from the FTX exchange within three days and then announcing the bankruptcy of this group in America on November 11, the complex and ambiguous world of digital currencies came into focus, A collapse that faced about a million creditor customers with a loss of billions of dollars.
Despite this, Zhao expects the digital currency industry to regain its position in the coming year.
He says:
This year has been a very bad year for digital currencies. A lot has happened in the last six months, and now I think the industry is healthier. Just because of what happened to FTX, we can’t say that other businesses in this field are in bad situation too.
The CEO of Binance has said about the possibility of digital currencies like Bitcoin being added to the financial reserves of countries in the future, that he expects countries to start this movement; Especially those that do not have their own national currency. Zhao added that he envisions the movement starting with smaller countries.
