While Bitcoin pulled back below $70,000 before touching $68,000, Changpeng Zhao (CZ) came out to reiterate his stance on BTC.
The founder of Binance posted a brief but pointed message on X: “Bitcoin is a hard asset. (The other top cryptocurrencies too).” With that statement, CZ sought to remind the community that BTC was not designed for short-term trading, but as a hedge against inflation in adverse economic contexts.
The community’s response was swift. Several users directly challenged CZ on his definition, pointing out that an asset that can lose 20% in a week or 50% in a matter of months hardly qualifies as “hard” in the traditional sense of the term. The contradiction between extreme volatility and the notion of a stable store of value has been at the center of the debate.
On the other hand, Robert Kiyosaki, author of *Rich Dad Poor Dad*, doubled down on his apocalyptic vision of traditional markets and predicted that Bitcoin would reach $750,000 per unit one year after the financial collapse he anticipates. The drop in BTC’s price was attributed to restrictive signals from the Federal Reserve and geopolitical tensions in the Middle East, factors that also weighed on equity markets.
Source: https://x.com/cz_binance/status/2035940587988550080
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