Binance’s CZ: High Inflation And Recession Fears Will Drive Bitcoin Adoption

It’s safe to say CZ is bullish on bitcoin and crypto’s future. Changpeng Zhao visited CNBC’s Squawk on the Street and flipped the prevalent bearish narrative on its head. In less than 2 minutes. Most of the things CZ said are based on common sense and a basic understanding of market forces, but still, it’s calming to hear a leader of the industry saying them. Especially in this fear-ridden stage of the cycle we’re in. .@binance CEO @cz_binance: The macroeconomics situation will be high inflation, the talk about recession…all of those things drive adoption into #Bitcoin.@CNBC pic.twitter.com/EP8OHwPeAa — Squawk on the Street (@SquawkStreet) July 28, 2022 Notice that even though Binance’s business is dependent on altcoins’ performance, especially BNB, CZ makes a clear distinction between bitcoin and crypto in general. On the other hand, even though the interview is about bitcoin, CZ sneaks crypto here and there. In any case, let’s analyze what Binance’s CEO thinks about the current market conditions and the future of bitcoin and crypto. What Did CZ Squawked On US National TV? The first thing the interviewer was interested in was the way that bitcoin bulls have defended the “20Kish” line. According to CZ, that was “the last peak” so there’s a “psychological barrier” there. So far, bitcoin’s price had never go lower than the previous cycle’s all-time high. This time it was different, probably because of Tes...