Radical Decision from Binance Founder CZ: I Don’t Use It in My Daily Life

Binance founder Changpeng Zhao (CZ) revealed that he uses almost no cash for his daily expenses and makes all his payments with cryptocurrencies.

Changpeng Zhao, the founder of Binance, the world’s largest cryptocurrency exchange, made striking statements regarding his personal financial preferences and the company’s revenue model. Frequently expressing his unwavering confidence in the future of cryptocurrencies, the famous figure stated that he has almost completely disconnected from the traditional financial system—meaning fiat currencies—in his own life.

CZ stated that he holds very little cash and uses his crypto assets for all the expenses in his daily life. Explaining that he makes these purchases through card solutions offering instant conversion, Zhao proves through his own life just how functional cryptocurrencies are as a means of payment. The renowned executive emphasizes that digital assets are not just an investment tool but also a living economy.

Binance’s Bitcoin Accumulation Strategy

Touching upon the company’s financial structure, Zhao noted that the revenue Binance generates from transaction fees is directly denominated in cryptocurrencies. Specifically, the fact that a large portion of the revenue is collected in Bitcoin (BTC) means the exchange is essentially following a continuous accumulation strategy. This situation strengthens the company’s reserves with the market’s primary assets while sending a message of long-term confidence.

Stating that he accepts cryptocurrencies as a reference point, CZ argued that from this perspective, short-term Bitcoin price fluctuations or central bank monetary policies lose their significance. Maintaining his optimism regarding the industry’s long-term bullish trend, the famous figure believes that focusing on digital assets instead of traditional currencies is the key to the financial future.