Binance CEO Goes Positive About Trump’s Tweets, Calls It “Bullish” For Bitcoin

By Dare Shonubi
Published July 23, 2019 Updated July 23, 2019
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Binance's CEO; Changpeng Zhao

Binance CEO Goes Positive About Trump’s Tweets, Calls It “Bullish” For Bitcoin

By Dare Shonubi
Published July 23, 2019 Updated July 23, 2019

Crypto evangelist and exchange’s CEO, Changpeng Zhao has opened up on his opinion about the controversial tweet of Donald Trump about Bitcoin and cryptocurrencies in general.

This news came following the controversial comments that the President of the United States, Donald Trump made on Twitter in which he backlashed bitcoin and cryptocurrencies, calling them “unregulated and based on thin-air”.

Trump took to his Twitter page earlier this month to disapprove of bitcoin and cryptocurrencies. In his tweet, he maintained that he wasn’t a fan of bitcoin and cryptocurrencies and categorically concluded that these asset classes were not monies.

Shortly after Trump’s tweets, although bitcoin had risen for a couple of days following the attack, Facebook’s controversial cryptocurrency, Libra was the one to take the brunt of the force as it seemed Trump’s tweet was an ” eye-opener”.

Libra fell on rocky waters with regulations and had to halt developments. Also, it gained some restrictions in a few countries like China and Japan.

As the tension subtly subsided the space and the crypto community slowly recovered from the shock of such wavy moments, Changpeng Zhao, CEO of Binance who is also known as CZ within the crypto community came out with a ground opening opinion of Trump’s tweet being bullish for the crypto community.

According to Zhao,

“Trump so far has not done anything positive or negative, he’s just said he’s not a fan,” Zhou told CNBC in an interview last week. “The fact that he tweeted about it, and the president of the United States is talking about cryptocurrency, it’s a good thing.”

Speaking during an interview with CNBC, CZ maintained that the fact that people like Trump, the US Congress and popular figures like Warren Buffett are now talking about Bitcoin was a bullish signal for bitcoin and cryptocurrencies in general.

Although at the moment, bitcoin had broken a support level at $10,500 and now trades around $10280, CZ believed, as he made his opinion know with CNBC that the long-term effect of such comments on bitcoin is inadvertently bullish for bitcoin, alts included.

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Dare Shonubi
247 Articles
Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development. You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com

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