Binance CEO Changpeng Zhao made a statement on how the third of the Bitcoin block prize halfway that took place the day before could affect prices.
There has been a lot of comment on how Bitcoin reward halving will affect the BTC price. So will the price go higher or does the nature of BTC require too much pricing?
According to Zhao Changpeng, CEO of Binance exchange, which has the largest volume in the world in spot crypto exchanges, or CZ, as known; even discussing it is illogical. Referring to the subject in an interview with Bloomberg in Singapore, CZ also made a comment that the award half will be positive for the crypto industry by looking at historical examples.
Miners can cling to their Bitcoins more tightly
According to Zhao; The reward halving, which takes place on Monday and periodically every 4 years, may cause the pricing of Bitcoin to explode in other ways. Instead of selling BTC just below the profit-loss lines, miners can hold on to their Bitcoins more tightly and hide them.
CZ of course, “Of course, there is a psychological factor that raises the price, but essentially the supply is restricted and the demand is increasing rapidly.” said.
In his speech at a conference, Zhao said:
“In the past few months, we have seen significant increases in both transaction volume and revenue. We see that the coronavirus outbreak affects large areas of the global economy. Crypto exchanges managed to keep themselves isolated in this regard. Investors can continue their transactions, even from home. As Binance, we continue to target new products and increase our workforce. Many exchanges have already announced that they have similar plans. Businesses, where physically employees do not need to come to work, although they form a smaller part of the economy, they are now stronger than in the past. In addition, monetary expansion has further increased the interest in digital assets. We have a lot of work to do and we have to get a lot of employees. Now is a good time for recruitment ”
Touching on how and how much the epidemic changed daily life, Zhao said, “There was not much change for me. The number of travel and conferences has obviously decreased. But I’m a self-directed person. I may not leave home for 1 week. No problem. ”
Speaking about fixed money and China’s digital money initiatives, CZ said, “We can say that fixed coins led by Tether have medium ground in the crypto money universe. Here, Tether’s lack of transparency can be seen as a negative point. The option here, including Binance’s fixed money, is huge … And more ‘stablecoin’ would be better for the crypto industry. I don’t see China’s digital money as a competitor. Maybe there may be some positive situations. As it offers people an extra option… As long as it provides a high degree of freedom and allows people to send money to each other cheaply and easily, we will continue to value this technology. If another coin makes it, that would be good for the industry, for the people. ”Commented.