CZ, founder and CEO of Binance, does not believe that anyone buying or selling Bitcoin can fundamentally affect Bitcoin, including Tesla CEO Elon Musk.

To prove his belief in the major cryptocurrency, CZ said he still holds most of the coins he bought when he entered the industry.

“CZ” Comments About Unloading Bitcoin From Tesla:

Commenting on Tesla’s recent unloading of 75% of its bitcoin holdings, the Binance chief took it very lightly, saying:

Elon Musk’s decision whether to buy or sell bitcoin doesn’t mean much because his move won’t change bitcoin’s fundamentals.

The CEO of “Tesla” revealed the reasons behind the discharge a few days ago, noting that the company needs funds for the newly opened factories in the United States and Germany, in addition to the desire to obtain better cash flow to support its business in China, which was severely affected by the pandemic. Kona in the second quarter of 2022.

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CZ, who once awarded $500 million to support Elon Musk’s ambition to acquire Twitter, added that no one knows exactly why Musk sold so much bitcoin, noting that the world’s richest man might need the cash to buy it. Twitter.

Speaking about the ongoing contagion that has sparked back-to-back fallout from corporate collapse, CZ explained in a previous interview with CNBC that Binance has minimal exposure to collapsing lenders such as Celsius and Voyager.

He added that Binance was neither a creditor nor a debtor to them.

I will explain:

When Binance noticed the risks inherent in these companies a while ago, it avoided them as much as possible.

I guess because we are stupid.

We like to do things in a simple way…we are an exchange and that’s why we don’t work in the loan business.

CZ: I don’t sell Bitcoin

When asked if he has sold any of his bitcoin positions in the bear market, CZ said he has held almost all of the cryptocurrencies he initially bought and only spent less than one percentage of his accumulated inventory.

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Earlier last month, CZ claimed that he does not have any fiat money, all he has is crypto and is therefore the only asset he uses for purchases in life.

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