I sold my house and put everything into bitcoin, says former CEO of Binance

Changpeng Zhaobetter known as CZthe founder and former CEO of Binance, continues to publish information about cryptocurrencies and his personal life on his Twitter account (X), despite leaving his position at the world’s largest exchange.

In a post published this Sunday morning (3), CZ talked about how he got started in the cryptocurrency market and stated that he made a decision that many would consider risky: he left his steady job, sold his house and decided to invest everything in Bitcoin.

CZ explained his decision, but also made an important comment. He clarified that he is not suggesting that everyone should follow his example. The former CEO of Binance emphasized that every person has a different risk profile and it is essential to understand and learn risk management before making such important decisions.

“10 years ago I quit my job, sold my house and got into Bitcoin. No, I’m not saying you should do the same. Many people wondered: how can you take such risks? I knew I could easily get a job… Everyone’s risk profile is different. Learn risk management.”

I sold my house and got into Bitcoin

CZ emphasized that he was confident at the time that he could easily get another job if his Bitcoin bet did not work out. This confidence, along with his knowledge of the cryptocurrency market and his tolerance for risk, led him to take a leap that few would have dared to take.

CZ’s journey with Bitcoin can be seen as an extreme example of faith and trust in an emerging technology.

CZ was born in China and moved to Canada with his family as a teenager. During his early years in Canada, he and his family faced financial difficulties and had to live on minimum wage.

After college, CZ began working in the financial industry, gaining experience in Tokyo and New York and working for Bloomberg Tradebook, developing software for investors. This period was crucial for the development of his financial and trading skills.

CZ’s interest in Bitcoin started in 2013, after he was introduced to the cryptocurrency during a poker game with friends. He quickly realized Bitcoin’s disruptive potential and dove head first into the world of cryptocurrencies.

In 2017, he founded Binance. Using his extensive experience in the financial world and his technical skills, he built the exchange that quickly stood out for offering a wide range of cryptocurrencies, a friendly user interface and competitive fees.

Binance, under CZ’s leadership, has not limited itself to just cryptocurrency trading, but has also expanded into other areas of the blockchain ecosystem, including offering tokens and launching its own blockchain, the Binance Smart Chain.

CZ is known for its user-centric philosophy and maintaining a transparent and fair ecosystem. He is a strong believer in financial freedom and believes strongly in the potential of cryptocurrencies and blockchain technology to democratize the global financial system.

Today, CZ is a central figure in the cryptocurrency world, known for his pragmatic approach and forward-thinking. He has become one of the richest billionaires in the cryptocurrency market and is regularly invited to share his expertise at global events.

Source: Live Coins