Changpeng Zhao: “Bitcoin will become the world's reserve currency”
The main owner of the world's largest crypto exchange Binance, Changpeng Zhao, suggested that Bitcoin will eventually become the world's reserve currency.
The founder of Binance noted that recently more and more companies, especially from the traditional financial sector of the global economy, are creating reserves of bitcoins for long-term storage. Corporations issue multimillion-dollar bonds to buy bitcoin. Therefore, bitcoin is confidently moving towards becoming the main reserve currency, the businessman explained.
“We are seeing the evolution of the financial sector. It is good to see that regular financial industries and even governments are accepting not only Bitcoin but also other cryptocurrencies. The crypto industry has come a long way,” Zhao said.
According to BTC Treasuries, about 17 companies have made their first purchase of bitcoin in the last month. In total, 310 legal entities now own bitcoin. More than a third are public companies (178). This number also includes 61 limited liability companies and 44 funds. Most of the legal entities buying bitcoin are located in the United States, 43 companies are registered in Canada, 20 in the UK, and the remaining 22 are in Japan and Hong Kong.
When the leading cryptocurrency hit a new all-time high in July, surpassing $122,000, Zhao reminded traders that this was just the beginning of a Bitcoin bull run that was poised to reach new heights.
A few days ago, Zhao said that central bank digital currencies are becoming useless due to the rapid development of stablecoins that make it easier to make money transfers and international payments.
Source: cryptonews.net
