Binance founder Changpeng Zhao (CZ) made his first comment after the decline in gold and silver prices today, and the start of a truly impressive rally in Bitcoin.
In the last 24 hours, the price of gold per ounce fell by 5.5% and the price of silver fell by 7% in dollar terms.
Bitcoin price rose by 2.9% in the last 24 hours and made an impressive 5.6% rise from its daily low.
CZ, one of the most influential figures in the cryptocurrency world, commented on the matter, saying, “Gold won’t fall to zero, but Bitcoin is better.” This statement came as a surprise to CZ, who is known for not commenting much on gold.
CZ’s comment appears to be a response to gold-biased analysts and economists. These experts are generally known for arguing that “BTC won’t go to zero, but gold is better” when Bitcoin prices are falling. He’s particularly known for his humorous comments on posts by Peter Schiff, a gold-biased and ardent Bitcoin hater, lately.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/binance-founder-cz-speaks-for-the-first-time-following-the-major-drop-in-gold-and-the-rally-in-bitcoin/
