Binance Co-Founder CZ Encourages Confidence in Bitcoin Investment as BTC Hits $91k

Changpeng Zhao (CZ) shared his insights with followers and crypto investors, aiming to boost confidence among investors.

Changpeng Zhao (CZ) is the co-founder and former CEO of the top-ranked crypto exchange Binance, known for its highly responsive trading services that cater to both new and experienced investors.

On 12 Nov 2024, Binance co-founder CZ shared a significant list of negative news reports and statements regarding Bitcoin. He advised people to avoid these negative reports around Bitcoin.

CZ on Bhutan’s Bitcoin HoldingsCZ highlighted news about Bhutan’s $1 billion Bitcoin holdings. He noted that more countries are beginning to adopt Bitcoin as a reserve asset.

Earlier, reports indicated that Bhutan held over 13,000 BTC, now worth $1 billion, roughly one-third of its recorded GDP in 2022.

Unknown Country Buying Bitcoin

Recently, a prominent Bitcoin investor confirmed that an unknown country has been adding Bitcoin to its treasury funds.

It now seems evident that more institutions and countries are joining the Bitcoin movement, likely fueling its price surge.

Bitcoin Price Action

The current trading price of Bitcoin is $91,370, a 4.47% increase over the past 24 hours, marking a new all-time high, signaling a robust upward trend and renewed confidence among investors.

The surge is likely due to a combination of factors: positive market sentiment, increased institutional adoption, and ongoing developments in global cryptocurrency regulation.

Many analysts are now speculating that Bitcoin’s price could climb even further as demand grows and more countries, like Bhutan, add Bitcoin to their reserves. This upward trajectory suggests that Bitcoin’s price may continue to set new records in this bull phase.

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