Binance chief executive officer Changpeng “CZ” Zhao has said that data shows long-term crypto holders outperform short-term traders.
In a series of tweets published May 24, CZ pointed out the irony of investors believing they got into cryptocurrency “too late” relative to the market, including himself. According to the exchange CEO, traders five years from now will likely be expressing a similar sentiment.
Everyone I have met that got into #crypto, thinks they got in too late, no exceptions, myself included, until 5 years later.
I expect the same will be true in 2025. We are still early in the game.
Not financial advice. And don't trade if you are not a trader. #hodl.
— CZ Binance 🔶🔶🔶 (@cz_binance) May 24, 2020
CZ continued, explaining that he was initially envious of crypto investors who had been in the market since 2010 or 2011, despite being an early adopter himself.
I remember we talked about it. “Why we can't be like Ben Reeves, who fking got in at 2010 or 2011?” lol. Good old times.
— CZ Binance 🔶🔶🔶 (@cz_binance) May 24, 2020
In response to a tweet asking whether “holding” is good financial advice, Binance’s chief executive revealed that data shows long-term crypto investors outperform traders. CZ commented on the difficulty of holding assets for a long period of time, which he called “passive” relative to the more active position of trading.
Not financial advice, data shows more holders out perform traders. But holding is hard. Trading makes you feel like you are in control. Holding feels passive.
— CZ Binance 🔶🔶🔶 (@cz_binance) May 24, 2020
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