By Changpeng Zhao (also known as CZ), is Binance’s Chief Executive Officer (CEO). His passion and ambition for cryptocurrencies have led him into one of the most successful cryptocurrency exchanges in the world.
Changpeng Zhao’s ambition lands him on the cover of Forbes Magazine
Changpeng’s ambition and influence within the crypto sector have landed him on prestigious covers, such as that of Forbes magazine. He is also listed on the magazine’s crypto rich list, as being among the wealthiest entrepreneurs operating across the cryptocurrency industry.
CZ’s background is considered to be modest, as he described his past during an interview with CryptoGlobe. During the interview, he elaborated on his thoughts around the cryptocurrency market and the future of Binance.
The Bull Market Come Back
CZ has boldly stated that he doesn’t accept that we are in a bear market at present, whilst he highlights Bitcoin’s seemingly unbreakable support at $6,000. He continued by saying that he is able to “kind of influence” the price of cryptocurrencies. 
Zhao has also highlighted the fact that Bitcoin only reached $20,000 for a “week or so” and has therefore suggested that looking to the “long-term” is the appropriate strategy.
He has also stated that he is reluctant to comment or “analyse markets because anything I say will be like super scrutinized”. He suggested that October to December are “good months,” and “that any minute the bull market will return.”
Historically, the virtual currency market has demonstrated growth in prices during the 4th quarter, yearly. For instance, in 2017, Bitcoin prices were hyperbolically reaching highs of nearly $20,000 before dipping to a low of $5,800 in 2018.
According to CZ himself, he takes a more responsive approach, as he “always” buys and holds.
$1 Billion in Profit from Modest Foundations
BTCC co-founder Bobby Lee and Sky9 Capital founder Ron Cao taught Zhao about the emerging asset class, which enabled the initiation of his career within the realm of cryptocurrencies.
CZ read the Bitcoin whitepaper and attended various virtual currency conferences, after which he ascertained that he would resign from his job to pursue a career in crypto on a full-time basis.
According to data obtained by CoinMarketCap, CZ has successfully developed the top cryptocurrency exchange by “adjusted” trading volume. CZ has projected that Binance, which has only recently celebrated its one-year anniversary, will meet a target as high as $1 billion in profits in 2018.
The Five-Year Vision of Binance
CZ has been commended for his accomplishments, as he was able to achieve a considerable amount within a short time-frame. His agenda is presently focused on the future of Binance and the entire cryptocurrency industry.
According to the Binance team, there is an opportunity for growth with the area of the wallet, which has facilitated the company’s engagement with Trust Wallet. The enhancement of the wallet is in addition to the team’s decentralized version of its cryptocurrency exchange which they built.
CZ expects the industry to be “so much bigger” in five years’ time. Zhao has an enormous social conscience whereby he wants to focus resources into “push[ing] education and charity,” among other social responsibilities.
He was also questioned about his audacious prediction of the crypto market cap growing “1,000x” in USD value in the future. The forecast was made on the social media platform, Twitter, in disagreement with comments made by Ethereum creator Vitalik Buterin, who has suggested that the market had peaked.
CZ maintains the position held in his comment, as he is of the opinion that the market could grow “much more” than that in the coming years, through the mass adoption of virtual currencies.
What do you think about the 5-year vision of Binance? Will we see another Bull Market in 2018? Let us know in the comments below!
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