Richard Teng, who took over as CEO after Binance's legendary founder Changpeng Zhao, talked about Bitcoin Spot ETFs, which are considered by experts to be approved only a matter of time.
Reminding that Bitcoin is often called digital gold, Teng compared BTC ETFs and gold ETFs.
The first gold ETF launched came in November 2004, and the price of gold at the time was $700 an ounce, Teng said. According to Teng, after the ETF approvals, the gold price started to rise and reached $2,450 in 2011 within 7 years.
Teng thus implied that the BTC price may also rise after Bitcoin Spot ETFs. The new Binance CEO added at the end of his post that what he said was not investment advice.
Teng is known for specifically avoiding mentioning cryptocurrency prices. While previous CEO CZ frequently comments on the cryptocurrency market, Teng takes a more passive role within the harmonization cooperation process initiated with the US.
However, Teng's statement today was likened to Changpeng Zhao's past posts. There is no new statement from Zhao regarding Spot ETFs yet.
*This is not investment advice.
