Changpeng Zhao, the founder of Binance, refutes “Bitcoin is dead” claims, emphasizing its ability to withstand and thrive despite persistent criticism.
Changpeng ‘CZ’ Zhao, the founder of Binance, recently responded to allegations that “Bitcoin is dead” on X. Zhao underscored the persistent skepticism that Bitcoin endures, despite its substantial impact on global finance, by providing a hyperlink to the “Bitcoin is Dead” website.
Bitcoin remains the most widely recognized cryptocurrency. The CZ message underscores the resilience of Bitcoin, as skeptics have consistently predicted its demise, yet it continues to flourish and gain market prominence.
CZ Binance Rejects Claims That “Bitcoin Is Dead”
Changpeng ‘CZ’ Zhao, the founder of Binance, addressed the recurring narrative of Bitcoin’s demise in an X post on November 12. He urged users to critically assess the opinions of skeptics by providing a link to a website called “Bitcoin Is Dead” that monitors these claims.
The “Bitcoin is Dead” page on BuyBitcoinWorldwide, which CZ Binance shares, contains 385 articles from various sources that declare Bitcoin’s purported demise. The ongoing skepticism that Bitcoin faces, despite its growth and adoption, is underscored by the repeated “obituaries.” These assertions are in stark opposition to the substantial support base of Bitcoin and its growing influence in the financial sector.
Bitcoin advocates contend that it remains a critical technology for decentralized finance even though it frequently encounters criticism from traditional finance. Bitcoin’s resilience and evolution are further emphasized in CZ Binance’s post, reaffirming its status in the crypto world.
The Role of Binance and the Expanding Ecosystem
Binance, the largest cryptocurrency exchange, is bolstering the role of Bitcoin in the market as it continues to expand its services and network. The exchange’s influence on Bitcoin adoption has increased as more users rely on Binance for asset management and trading.
The recent increase in the price of Bitcoin has further silenced critics. Bitcoin has hit a 24-hour high of $89,783 and a low of $80,750, with a 24-hour trading volume of $135 billion while trading at $89,482. It has surpassed silver in market capitalization, with a 30% increase in the past week and a 42% increase in the past month. This has solidified its status as a dominant asset in the global market.
Binance and Changpeng ‘CZ’ Zhao are facing a lawsuit from FTX, which demands the return of $1.8 billion in funds and support for Bitcoin. This ongoing case underscores the regulatory obstacles that Binance encounters as it advances the adoption and stability of Bitcoin in the broader ecosystem.
