BINANCE CEO ATTACKS ELON MUSK

After the CEO of Binance Holdings, ​Changpeng Zhao ​​​​called out Elon Musk's advocacy of lesser known dogecoin, the second richest man in the world said that Tesla's $1.5 billion bitcoin bet is an adventurous enough investment for the company. He went further to say that having some Bitcoin is a less dumb form of liquidity than cash.


Elon Musk took the corporate world and cryptocurrency space by storm when he announced this month that Tesla had put $1.5 billion of cash into Bitcoin which prompted a surge in bitcoin's price and has fueled talks about the risks and benefits of adding cryptocurrencies to corporate balance sheets.


The CEO of Binance, Zhao, said in an interview that he was surprised that Musk was a fan of dogecoin which had outperformed bitcoin this early first quarter of the year. Elon Musk has tweeted multiple times about dogecoin which started as a joke coin in 2013 and dogecoin futures has been added already on Binance platform to satisfy new liquidity demands.


The CEO of Binance, Zhao, wondered why Tesla decided to buy bitcoin if he was a huge fan of dogecoin. This remark prompted Musk who is planning to accept bitcoin as payment to reply that his action is not directly reflective of his option.


Among other factors, the optimism over institutional interest has helped bitcoin surge more than 400% over the past year. As bitcoin tops over $50,000, Binance is taking in new users at its fastest pace ever and has been attracting more than 300,000 new user registrations on a daily basis.


BNB which is Binance's own token has also outperformed bitcoin this early first quarter of the year and Zhao noted that the rise of BNB came with higher risks, comparing it's volatility levels with bitcoin. Binance now powers the decentralized applications on Binance's own blockchain which is called the Binance Smart Chain but we must remember that Binance coin BNB started as a loyalty program incentivizing user trades .


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COMMENT

16

Josemendez P.
24 Feb

Elon Musk has been influencing the price of dogecoin yet he has never invested tangible amount in it . He believes that most of the dogecoin is in possession of fewer holdlers 

20

Anthony Eri
24 Feb

😂😂😂 But critically looking at it, I sort of understand Zhao's criticism. Why pump Dogecoin and yet you aren't a hodler? If he's not been paid to pump dogecoin, I can't explain another motive for his actions. Even when you look at Elon Musk Twitter's profile page, you will see Dogecoin banner on it.

12

Vincent Isibor
24 Feb

Did I hear say the owner of Binance is the second richest man in the world? What about Bezos and Gates? Interesting to hear that. All their trade war is to help the market to bull no wahala.

20

Anthony Eri
24 Feb

NO! Lol!!! Elon Musk is the second richest man in the world. Jeff Bezos overtook him earlier this month!!! And you are perfectly right! All the trade war is to pump BTC, BNB and Dogecoin 😂

11

Cripto_Nic Uptrennd
24 Feb

I'm always interested in other people's opinions about Bitcoin and Crypto in general, but when that person happens to be the richest man on the planet (and probably on Mars too), you better listen very carefully because things start to move really quickly. 

Really good post buddy. 

Cheers. 

P.S. I'm following you right now of course! 

20

Anthony Eri
24 Feb

Yeah buddy you are certainly right! Elon Musk is actually the biggest Bitcoin influencer on the planet now!! 

4

Elp Buidl
24 Feb

Nice move of Binance with BSC. A great solution for small and average tradings. As you say BNB is also a valuable token giving to BNB holders nice advantages. I think Binance is now a heavy value in the cryptosphere and will keep it even when/if level 2 Ethereum will succeed. There is place for both. This reinforce the Binance CEO observation toward Elon Musk, smart chess move!

20

Anthony Eri
24 Feb

LOL! The Binance Smart Chain is the salvation of high transaction fees. Projects are embracing BSC in their huge numbers and this have ultimately increased the value of BNB. Just as you said, even if ETH 2.0 finally launches fully, it has gotten a big rival in BSC!!!

And for the Binance CEO and Elon Musk trade of words, it's certainly a smart chess move indeed to pump BTC, BNB and Dogecoin 😂

22

preview not available Osato Jegede
26 Feb

Changpeng Zhao definitely has a point that worth our attention. But regardless we cannot not just down played the influence of Elon Musk on the crypto community 

20

Anthony Eri
26 Feb

Changpeng has a point.... Elon might be a secret investor in Dogecoin and oh YES! Elon is the biggest crypto social media influencer at the moment!!

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