The founder and CEO of Binance, the largest cryptocurrency exchange in the world Changpeng Zhao revealed that almost 100% of his net worth is invested in cryptocurrency.
Changpeng, who is ranked one of the richest billionaires in the cryptocurrency industry said in an interview with Bloomberg that the percentage of his net worth in crypto is ‘close to 100%.’
He said “I don’t own any fiat, the physical stuff that I own is probably negligible in terms of my net worth. So this is a concept shift. I’m not using crypto to buy fiat, I’m not using crypto to buy houses. I just want to keep crypto. And I don’t plan to convert my crypto into cash in the future.”
Changpeng added that he is only interested in holding his crypto, and he does not have any plans to convert his crypto investments to fiat anytime soon, adding that he does not own any fiat currency.
“I’m one of those guys who value liquidity much more than owning something. I actually prefer not to own anything,” he said.
Changpeng had earlier posted on Twitter in February that he holds zero fiats.
The current price of bitcoin is $56,633.57, dropping by 3.20% in the last 24 hours. Bitcoin’s current market cap of $1.06T and market volume of $68.06B. In the last 24 hours, bitcoin has dropped to $55,698.23 and experienced a 24 hours high of $58,645.77. Currently, 18,676,037.5 bitcoins are in circulation.
Stats and Image from Coin Desk
Changpeng credits his interest and love for Bitcoin to its borderless nature. He added that after his first Bitcoin trial, he sold his apartment to invest in it, and also quit his job.
“What I really liked about Bitcoin back then, and even now, is it’s borderless. It’s maintained by the network. You can transfer money from any country to any other country, not limited by any person or intermediaries. Having lived in a lot of different countries, every time I had to convert money, I would lose a lot,” he added.