Changpeng Zhao (CZ) made noteworthy statements regarding both Bitcoin’s long-term potential and the recent FUD (Fear, Uncertainty, and Doubt) claims circulating in the market during a Q&A session.
CZ argued that while he believes Bitcoin is fundamentally a far superior asset to gold, it is still in its early stages. According to CZ, global adoption of Bitcoin will take time.
“I believe Bitcoin is much better than gold. However, Bitcoin is still a relatively new phenomenon and its adoption rate is low,” said CZ, noting that gold’s market value is currently about 10 times that of Bitcoin. He stated that this means that the number of people who know about and own gold is also much higher.
According to CZ, the main reason gold is more widely accepted today is not technological superiority, but habit and familiarity. Arguing that Bitcoin will also gain this familiarity over time, CZ stated that the process requires a natural adaptation period.
At this point, CZ, giving the example of artificial intelligence, said, “We may believe that artificial intelligence is a wonderful technology and that one day it will be able to do many jobs. But that doesn’t mean it can do everything right now. The time factor is always there.”
*This is not investment advice.
