Changpeng Zhao emphasizes the potential for Bitcoin investors to capitalize on low prices ahead of Donald Trump’s executive order on cryptocurrency.
In response to fluctuations in Bitcoin prices, Changpeng “CZ” Zhao, the founder of Binance, has expressed his inclination to acquire the cryptocurrency. This occurs in the context of rumors that the incoming US President, Donald Trump, may issue executive orders concerning cryptocurrency on his inaugural day. In the interim, there have been indications of a recovery in the price of BTC, as evidenced by a substantial increase in the past 24 hours.
Changpeng “CZ” Zhao, the founder of Binance, discusses the acquisition of Bitcoin
Changpeng “CZ” Zhao, the founder of Binance, has published a post on X that emphasizes that fluctuations in the price of Bitcoin (BTC) present an opportunity for investors and speculators to acquire tokens.
He further stated that the current momentum indicates the earlier indicators many crypto investors and traders may have overlooked when BTC first began acquiring momentum on price charts. Additionally, he has specified that his post does not constitute financial advice.
It is intriguing that MicroStrategy, the company of Michael Saylor, acquired Bitcoin worth $243 million, bringing the total number of Bitcoin holdings to 450,000. Investors have increased their Bitcoin accumulation due to this, given the long-term outlook.
Executive Order of Donald Trump
It is a topic of speculation that Donald Trump will issue executive orders regarding cryptocurrencies on his inaugural day as President of the United States. According to reports, these executive orders pertain to bank accounting policies for cryptocurrencies and de-banking. Currently, bank accounting policy mandates that digital assets be classified as liabilities. However, the executive order signed by Donald Trump will alter this practice.
Several US Crypto ETFs that issuers have already lodged are also anticipated to receive approval from Donald Trump. In the initial 12 months following their approval, JPMorgan predicted that Solana and XRP ETFs could generate an approximately $15 billion inflow.
Bitcoin Price Recovery
Binance founder Changpeng Zhao’s guidance has resulted in a recovery in bitcoin pricing. Bitcoin prices have increased by 5% in the past 24 hours, trading at $96,598, indicating a substantial recovery from the most recent collapse. The 24-hour trading volume experienced a 138.74% increase and is anticipated to continue to increase as the macro headwinds subside.
As QCP Capital, the US PPI and CPI inflation data may improve as traders acclimate to the extended period of higher interest rates. The market could receive the necessary lift if Trump signs executive orders on day one addressing “de-banking” and revoking a contentious crypto accounting policy. Additionally, they noted that this is a possibility.
Bearish sentiments regarding Bitcoin continue to prevail. Nevertheless, market sentiments are anticipated to shift as BTC recovers and the US Presidential inauguration approaches.
