Binances Changpeng Zhao Says Price is a Distraction
Former Binance CEO Changpeng "CZ" Zhao light-heartedly urges the crypto industry to stay focused.Over the past few months, Bitcoin has surged to new record highs and broken past the long-coveted $100,000 price point. At the same time, several altcoins have recorded over 200% price gains. However, according to recent statements from former Binance CEO Changpeng "CZ" Zhao, this is all a distraction.Binance's Changpeng Zhao Says "Keep Building"Binance co-founder Changpeng "CZ" Zhao has asserted that "price is a distraction," urging crypto market participants to "keep building."The influential crypto figure made this remark in an X post on Sunday, January 5, in a light-hearted spin on statements from Tesla CEO Elon Musk. As part of a debate with astrophysicist Peter Hague, Musk had contended that humanity was going straight to Mars, stating that "the moon is a distraction."CZ's play on Musk's words comes as crypto market participants often cite the moon when describing the astronomical price potential of crypto assets.The former Binance CEO's statement, though light-hearted, points out the need for the industry's focus to remain on building real-world solutions, which will continue to fuel adoption and growth in crypto asset prices as a result.Nonetheless, CZ himself remains optimistic about the crypto market's prospects. "Send It Year"On January 3, CZ asserted that "2025 will be a 'send it' year.""Send it" is a phrase typically used by crypto market participants to express excitement when asset prices are soaring. There are several reasons for crypto investors to be optimistic in 2025. For one, the industry anticipates favorable regulatory conditions under the Donald Trump administration. Global liquidity conditions also look set to improve as central banks continue to cut interest rates.At the same time, institutional adoption is on the rise, as reflected by the capital inflows into the market through Bitcoin and Ethereum exchange-traded products. Several countries are also considering the prospect of launching strategic Bitcoin reserves.
Text source: The Crypto Basic
