Changpeng Zhao, founder and CEO of the world’s largest cryptocurrency exchange platform Binance and one of the world’s largest cryptocurrency billionaires, does not own much of it, apart from cryptocurrencies.
“I am one of those people who values liquidity more than owning something. I actually prefer not to have anything, “Zhao said in an interview with Bloomberg on Wednesday.
He noted that many cryptocurrencies such as Bitcoin (BTC) now make up almost 100% of the net worth, as he does not own real estate or a large number of securities. When asked how much of his fortune is invested in cryptocurrency, Zhao replied:
“I would say that this is probably close to 100%. I have nothing. The physical things I own are probably worthless when it comes to my net worth. So this is a shift in concept. I do not use cryptocurrency to buy fiat; I do not use coins. I just want to save cryptocurrency. I have no plans to convert my cryptocurrency into cash in the future. ”
Zhao said it took a while to shrink the portfolio of cryptocurrencies. After buying his first bitcoin, the CEO ran to sell the apartment in Shanghai, which he bought in 2006. He said: “I sold my apartment to buy bitcoin, and I also quit my job.” “You can rent an apartment or stay in a hotel, which gives you much higher liquidity,” Zhao added.
Binance’s CEO previously stated that it does not have fiat currencies. “I have zero fiat,” Zhao announced on Twitter in February, noting that he converts cryptocurrencies to digital currencies only for payments that can only be made with traditional money.
According to the Huron Research Institute in China, Zhao is one of the richest people in the world in the cryptocurrency and blockchain industry and ranks third on the list of the richest cryptocurrency billionaires with a total net worth of $ 8 billion. January 2021