Binance CEO CZ Emphasizes Long-Term Bitcoin Growth Amid Upgrades and Altcoin Underperformance

Changpeng Zhao, widely known as CZ in the crypto community, has emphasized the importance of long-term development for Bitcoin's future wealth. CZ believes that patience, discipline, and a long-term vision are crucial for success in the world of cryptocurrency investing. This perspective is supported by the historical performance of Bitcoin, which, despite experiencing sharp declines, has shown tremendous growth over time with a long-term investment strategy.

CZ's views on the importance of long-term development are also reflected in his recent announcements regarding the Binance Chain. He has revealed plans for several hard forks, including the Pascal hard fork, which is set to take place at the end of March. This upgrade aims to enhance the compatibility of the BNB Chain with the Ethereum Virtual Machine (EVM) and improve developer flexibility. The Pascal hard fork will introduce EIP-7702 smart contract wallets, enabling gasless transactions, batch approvals, and swaps in one click, making it easier for new users to onboard onto Web3.

Following the Pascal hard fork, two more crucial upgrades are scheduled for the BNB Chain: the Lorentz hard fork in April and the Maxwell hard fork in June. These upgrades will reduce the generating block times to 1.5 seconds and then to 0.75 seconds, respectively, further enhancing the efficiency and performance of the blockchain.

CZ's focus on long-term development is not limited to technological upgrades. He has also highlighted the performance of altcoins, noting that very few of the top 100 altcoins have outperformed Bitcoin in the past three months. This observation suggests that the altseason, a period when altcoins typically outperform Bitcoin, may not be imminent. CZ's insights underscore the importance of a long-term perspective in cryptocurrency investing, as short-term fluctuations can be misleading indicators of an asset's true value.

In addition to his technical and strategic contributions, CZ has also shared personal updates with the crypto community. He recently revealed that he has completed the first draft of a book he has been writing, which amounts to 114,000 words. CZ described the writing process as a "massive self brain dump exercise" and acknowledged that it took longer than expected. He plans to rewrite the draft, indicating his commitment to producing a high-quality work that reflects his insights and experiences in the crypto industry.