Changpeng Zhao confesses that his fortune lies “almost 100%” in digital assets.
The CEO of Binance stands out as the third richest man in the crypto ecosystem, with a net worth equivalent to 8 billion dollars.
In these times, the great millionaires are characterized by their multiple properties, their luxurious vehicles or other businesses that constantly increase their wealth. However, that is not the case for Changpeng Zhao , the CEO of Binance, the world’s largest exchange.
“I’m one of those guys who values liquidity far more than owning something. In fact, I’d rather have nothing , ” Zhao noted in a recent interview with Bloomberg. Where then does your fortune lie? Absolutely everything in cryptocurrencies .
Almost 100% of the entrepreneur’s total net worth lies in digital assets . While Bitcoin (BTC) accounts for most of his funds, the CEO owns a large amount of his exchange’s native cryptocurrency, Binance Coin (BNB). Fiat money , almost no longer exists in its investment portfolio .
“The physical things I own are probably insignificant in terms of my net worth. So this is a change in concept, ” explained Zhao , who is so confident in the future of finance that he is no longer afraid of the risk of“ losing everything ”that haunts the minds of skeptics .
I am not using cryptocurrencies to buy fiat money; I am not using them to buy houses. I just want to keep them. I also do not plan to convert my crypto to cash in the future.
CZ stands out within the ecosystem for being one of the first entrepreneurs to fully trust digital assets. Although today he is recognized for being a “visionary” in the world of cryptocurrencies, he knew how to be questioned for leaving his comfort zone to bet on the market. ” I sold my apartment in Shanghai to buy BTC and I also quit my job, ” he noted.
Zhao’s rejection of traditional currencies was already in sight at the beginning of the year, when he confessed on his Twitter account that he only converts his digital assets into fiat to make payments that required traditional money .