Changpeng Zhao predicts a global race among states for bitcoin and cryptocurrencies
Co-founder of the largest cryptocurrency exchange Binance Changpeng Zhao (CZ) said that in the near future, world powers will begin to compete for ownership of key cryptocurrencies, primarily Bitcoin. According to the entrepreneur, digital assets will soon become strategic assets on par with gold and foreign exchange reserves.
Speaking at a business forum in Singapore, Zhao noted that governments are already recognizing the long-term potential of blockchain technologies and cryptocurrencies.
“While Bitcoin was previously perceived as a tool for enthusiasts and investors, it is now beginning to acquire the status of a global reserve that can be used to strengthen national financial systems,” CZ emphasized.
He compared the possible situation to a 21st century “digital gold rush”, adding that each country will seek to accumulate a certain amount of BTC in order not to end up at a strategic disadvantage.
Industry experts confirm that such a trend is already taking shape. For example, the Central African Republic has made Bitcoin an official means of payment, and in Latin America, measures for direct purchases of digital assets by government agencies are being discussed. According to analysts, the largest sovereign funds in the Middle East are gradually diversifying their portfolios through crypto assets.
“We are on the threshold of a new economic reality, where cryptocurrencies are becoming part of the geopolitical balance. Competition for limited digital resources will only intensify,” Michael Rogers, an analyst at Chainalysis, comments on Zhao's position.
Against the backdrop of the statements of the former head of Binance, Bitcoin demonstrated growth of almost 4% and consolidated above the level of $68,000. Market participants expect an increase in demand from both institutional investors and government agencies.
Analysts predict that if states really start to strategically accumulate cryptocurrencies, this will lead to a new stage of growth in the value of BTC and an increase in its role in the global economy.
Source: cryptonews.net
