Bitcoin, according to Changpeng Zhao, Binance’s Chief Executive Officer, is no more volatile than most products of high-tech brands such as Tesla and Apple. He also said the exchange would “have good news to give” about its legal battle with international regulators. One analyst said: ‘Most Tech Products are more Convertible than BTC. In a recent interview with the Financial Times, Changpeng Zhao said that the prices of major cryptocurrency have been “more stable” over the past two years than the prices of shares in tech companies like Elon Musk’s Tesla and even Apple.
“If you look at the past two years, if you look at the value of the technology market instead of the value of bitcoin, many technology markets are more volatile than bitcoin. If you look at the data, bitcoin is more stable than Tesla, bitcoin is more stable than Apple.
It is noteworthy that Tesla product prices have recorded major changes in the last few years. When the conference began in early 2020, a share was worth around $ 90. In November 2021, TSLA reached its all-time high of $ 1243. However, within the next two months, he lost some ground, dropping to less than $ 800 at one point. Currently, it costs around $ 930.
Apple’s share change, on the other hand, is not that considerable, and can be explained by the fact that the company moved on the market 50 years ago. While many companies are trying to cope with the onset of the COVID-19 pandemic, AAPL shares are moving farther north. In January of this year, the company reached an ATH for almost $ 183. However, it is currently 13% below its peak, trading at approximately $ 160. That said, many would argue that the value of bitcoin is much more volatile as it always records double digit transactions in both directions.
It is also a relatively new asset, and those who are constantly experiencing high price fluctuations in their early days. Google and Amazon also saw a big change in the beginning but now stand among the largest and most stable companies in terms of market value. The world’s largest crypto platform has received regulatory pensions from several security guards in recent months. The FCA of the UK, the EU, and the FSCA of South Africa are just a few examples.
In November last year, CZ said Binance would change its plans to fix its cases with regulators. He vowed to transform the organization into a licensed financial institution with a central office.
During its most recent appearance, the director remained optimistic about future collaboration between Binance and global watchdogs. He recalled that the US part of the exchange was licensed to operate in 45 of the US states, while “good news” about distribution in other countries was coming:
“We have 45 state licenses in the US. In other worlds, including the G7 countries, we are making very good progress and I think we will have good news to share in the coming weeks. ”