Ah, the sweet allure of quick riches! Who wouldn’t want to become a crypto millionaire overnight, right? Well, former Binance CEO Changpeng Zhao, also known as CZ, has a stern message for those seeking such instant gratification: stay away from cryptocurrencies!
In a recent post on the X social media network, CZ urged potential investors to avoid the nascent asset class if their goal is to get rich quick. “If you want to get rich quick, don’t touch (and blame) crypto,” he told his 10 million followers.
The “Hodling” Mentality
Earlier this year, cryptocurrency influencer EmperorBTC outlined four categories of investors. Roughly 80% of them are tourists (FOMO-driven), 10% follow poor advice, 5% pretend to know, and only the remaining 5% truly grasp crypto.
CZ responded to this by stating that the vast majority of those investors are those who actively trade or work on projects while failing to actually outperform Bitcoin. He opined that holding actually surpasses 99% of cryptocurrency participants and other assets by doing nothing.
In June, as reported by U.Today, CZ stated that only the courage to “HODL” actually counts.
CZ’s $1 Million Prediction
Despite his warning against seeking quick gains, the former Binance boss believes that Bitcoin still has plenty of upside potential. In early May, he forecasted that the leading cryptocurrency could reach up to $1 million during the current bullish cycle due to growing institutional adoption.
So, dear reader, if you’re looking for a get-rich-quick scheme, perhaps crypto isn’t the answer. But if you’re willing to embrace the “HODL” mentality and patiently wait for the long-term gains, then maybe, just maybe, you’ll strike gold. Or Bitcoin. Or whatever shiny digital coin catches your fancy. 😉
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2025-07-07 21:37