CZ Binance Says “This is Just the Beginning” As Bitcoin Blasts Through $77,000

Former Binance CEO and founder, Changpeng Zhao (popularly known as CZ) has reminded cryptocurrency investors, and perhaps even those still eyeing up a position in the surging market that “this is just the beginning.” CZ latest comments comes less than an hour after bitcoin (BTC) broke the $77,000 mark for the first time ever.

The new high continues what has been a stellar week for Bitcoin, and indeed broader cryptocurrency markets. The uptrend is largely attributed to Donald Trump’s victory in the U.S. Presidential election, and more recently a 0.25% interest rate cut by the U.S. Federal Reserve.

Donald Trump, a known Bitcoin proponent has pledged to make America a home for the emerging industry, with muses of the United States creating a strategic Bitcoin reserve even making the rounds. Additionally, the interest rate cut by the Federal Reserve means improved macroeconomic conditions and more money flowing in the financial markets in search of better investment returns.

Just the beginning.

— CZ 🔶 BNB (@cz_binance) November 8, 2024

Experienced CZ Boosts Investor Confidence

CZ’s latest comment evidently catches the eye for several reasons. Beyond his highly esteemed status as a founder of one of the most successful cryptocurrency exchanges, the former Binance boss is considered one of the most successful in the industry also on a personal level.

History has it that he first learned about Bitcoin in 2013, and made the decision of investing most of his fortune in the then nascent cryptocurrency. The decision eventually paid off, and paved the way for the creation of Binance in 2017, albeit aided by Zhao’s experience working as an employee with other exchanges in the industry.

Despite a string of regulatory woes that eventually befell Binance in recent years, the former CEO has a reported net worth of $33 billion as of April 2024, a figure that has increased by an additional $12 billion with the latest market uptrend. When such as an experienced and successful investor notes that a bullish market period has just began, many would certainly be paying attention.

At the time of writing, the global crypto market cap is valued at $2.57 trillion, gradually approaching the $2.8 trillion record high set in 2021.