Changpeng Zhao, the founder and CEO of Binance, the world's largest cryptocurrency exchange by trading volume, announced that he keeps almost all of his net worth in cryptocurrencies.
Zhao, known as CZ, said in a Twitter conversation with a follower that 99.99% of his wealth is in crypto or Bitcoin. He also said that he pays all his expenses, including his family, via crypto.
The conversation was quoted by one Twitter user as "How many of you hold more than 90% of your net worth in crypto or Bitcoin?" He started by asking the question. “99.99%,” CZ replied quickly. This response caught the attention of many cryptocurrency enthusiasts and market watchers.
Another follower who questioned CZ's financial setup asked whether all of his expenses, including those for his family, were paid using cryptocurrencies. In response, CZ noted that there are several ways to convert cryptocurrency to fiat for everyday spending:
“Yes, there are many ways to 'convert at checkout'. Payer pays in crypto, buyer receives in fiat. Binance (and others) can be middleware.”
*Not investment advice.
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