CZ Mocks Bitcoin Sceptics as BTC Hits ATH

Former Binance CEO Changpeng Zhao (CZ) responded to Bitcoin critics on Tuesday, reaffirming the cryptocurrency's resilience as its price climbed to new highs.

Despite countless forecasts of its collapse over the years, Bitcoin has consistently defied sceptics.

The "Bitcoin Is Dead" website, which CZ referenced, has documented 385 articles since 2010, each claiming Bitcoin's demise was imminent.

From a value of just a penny to its June 2022 high of $20,552, Bitcoin's journey illustrates its enduring strength.

Earlier today, Bitcoin approached an all-time high of nearly $90,000 before settling at $87,661.58, marking a 19.41% increase for the week, despite a 1.9% drop in the last 24 hours, according to CoinMarketCap.

This surge builds on Bitcoin's recovery from earlier market lows, fuelled by renewed investor interest.

After CZ's release from California's Lompoc II detention center on 27 September, Bitcoin showed strong upward momentum, holding at around $65,500.

Now, some analysts predict Bitcoin could soon reach $150,000, posing a fresh challenge to its critics and solidifying its role in the global financial landscape.

Binance and Bitcoin

Binance, a pivotal player in Bitcoin's global adoption and support, stands as the world's largest crypto exchange, meeting surging demand for Bitcoin trading and digital asset management.

Its continued expansion bolsters Bitcoin’s influence in the market, fuelling the cryptocurrency's growth and broadening its reach.

Yet, despite these advancements, Binance and its founder, CZ, are embroiled in complex legal disputes.

Recently, FTX filed a lawsuit against Binance, alleging fraudulent conduct and demanding the return of nearly $1.8 billion in assets.

The suit claims Binance and CZ received these assets through unauthorised transfers from FTX, adding legal complications to the exchange's operations as it grapples with regulatory and legal scrutiny.