CZ Reveals Early Crypto Career Transition Selling House for Bitcoin

Changpeng Zhao, commonly known as CZ, the former CEO of Binance, shared insights into his early career transition into the cryptocurrency industry. He recounted selling his house and leaving a stable job to pursue opportunities in crypto. During a public interview, CZ discussed his journey and the significant decisions that shaped his career.

CZ's current wealth is estimated to be $65.1 billion, primarily derived from his holdings of Binance Coin (BNB). He controls approximately 64% of BNB’s total supply. Despite his substantial net worth, CZ emphasized that money no longer drives his decisions. He now values time and personal energy as his most precious resources.

Regarding Bitcoin, CZ predicted that its value will surpass the average price of American homes. However, he cautioned companies against impulsive decisions to include Bitcoin in their treasuries. CZ advised thorough risk evaluation and structured planning for corporate adoption of cryptocurrencies.

CZ observed a growing trend of institutional engagement with crypto. Exchange-traded funds (ETFs) holding digital assets and the integration of cryptocurrency products into traditional financial exchanges contribute to this trend. He also noted that XRP maintained high trading activity on Binance during its legal challenges, justifying its continued listing.

CZ expressed interest in the combination of artificial intelligence and blockchain technology. He anticipates that governments will use blockchain for digital identification systems, tax collection, and public service delivery. CZ described this combination as inevitable.

CZ's remarks provided clarity on his operational philosophy after leaving Binance. He selects projects based on personal interest rather than financial return. He referenced selling his Shanghai property in 2014 to fund Bitcoin endeavors, a decision that preceded the founding of Binance in 2017.