Changpeng Zhao (CZ), the CEO of the world’s biggest cryptocurrency exchange, Binance, has revealed that he has a personal stash of bitcoin in his investment portfolio.
CZ Bought Bitcoin in 2014
Speaking in a recent interview with the Associated Press, CZ noted that although a significant percentage of his net worth is made up of his Binance Coin (BNB) holdings, he still has some BTC that he purchased a few years after Bitcoin’s launch.
The Binance boss admitted that he had bought an undisclosed amount of the primary cryptocurrency back in 2014. Although he had spent a portion of them over the years, he noted that he still holds most down to this day.
“I bought some bitcoins in 2014. I spent a little bit of it over time, but I held onto most of it. I did not sell,” he said.
Despite the many different events within the crypto space over the past seven years, with bitcoin recording new all-time highs (ATH), CZ maintained a relatively strong decision to HODL his BTC bag.
I Do Not Hold Any Other Coins: CZ
Surprisingly, despite being the CEO of the biggest cryptocurrency exchange and interacting with different crypto projects, coins, and tokens, CZ admitted that his investment portfolio is not very much diversified.
The CEO revealed that he does not hold any other coins apart from the bitcoins he purchased seven years ago and his BNB holdings, which make up the bulk of his portfolio.
CZ also noted that he has no personal equity in any crypto and non-crypto projects, as he is aiming to avoid any potential conflicts of interest.
He said, “Personally, I don’t hold any other coins… I personally do not own equity in any other project, crypto or not crypto. I do this very deliberately because I don’t want any potential conflicts of interest.”
Binance Pushes to be Licensed “Everywhere”
In recent months, Binance has received a lot of warnings and sanctions from various financial regulators across the globe.
Undeterred, CZ stated earlier in July that the exchange is looking to make necessary changes to bring it back on track with regulators and enable it to get licensed everywhere.