- The Binance CEO was challenged to talk about BTC’s drop from $50k to $20k.
- Zhao’s response got many crypto enthusiasts cheering and clapping for him.
- Recently, BTC skeptics have spared no time to spread FUD about the crypto market.
The crypto community is having a field day mocking the Bitcoin skeptic who tried to talk down on its price. Recently, Changpeng Zhao (CZ), the CEO of the largest crypto exchange, Binance, was challenged in an interview to talk about Bitcoin’s (BTC) fall from $50k to below the 2017 price of $20k. Zhao replied sarcastically, “Yes, but Bitcoin didn’t start at $50k.”
In a conversation today: "you know #bitcoin dropped from $50k to below $20k now."Me: "yes, but #bitcoin didn't start at $50k."— CZ Binance (@cz_binance) October 14, 2022
The Binance CEO’s response got many crypto enthusiasts cheering and clapping at him on “a job well done.” They also pointed out that both viewpoints are valid, but each represents the difference between pessimists and optimists.
Of the many accolades thrown at Zhao for his witty response, the one that stood out was user @TajCrypto’s statement. They said:
People who criticize Bitcoin for dropping from its 2021 high forget that it was an asset below one dollar a little over a decade ago. Bitcoin has remained the best-performing asset in the last decade and still has massive upside potential.
Indeed, recent data from various market analytics firms confirm that the most-priced cryptocurrency, Bitcoin, outperformed traditional currencies and stocks regardless of the bear market.
Recently, Bitcoin skeptics have spared no moment to spread FUD about the crypto market following the monumental collapse of Terra LUNA 1.0 and the algorithmic stablecoin UST. Nonetheless, the wave of mainstream crypto adoption keeps soaring high. Two days ago, the world’s largest company Google (NASDAQ:GOOGL) allowed its users to pay for cloud services in Bitcoin, Ethereum (ETH), and Dogecoin via the US-based crypto exchange, Coinbase (NASDAQ:COIN).
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