Binance CEO Makes Important Comments on Bitcoin, Likening It to a “Treasure”
Richard Teng, the new CEO of Binance after taking over from Changpeng Zhao, posted a special tweet about Bitcoin. In it, he expressed his admiration for the outstanding qualities of Bitcoin, affirming its solid position in the global financial market.
This event took place right after important information related to Bitcoin was announced on the X platform.
Richard Teng Likens Bitcoin to a Treasure
Richard Teng wrote that Bitcoin is “like digital gold, a truly precious treasure,” while also affirming that this is not financial advice. Responding to a comment from a follower on X, Teng emphasized that Bitcoin is “scarce and an effective hedge against inflation.”
Richard Teng's statement comes at the same time as US President Donald Trump signed an executive order to establish a Strategic Bitcoin Reserve (SBR) for the United States. Bitcoin prices responded positively, rising 4% from $85,550 to $89,000 within hours of the news, as of press time.
Prior to this recovery, Bitcoin had fallen nearly 8% since Thursday, when it fell from $92,780 to $85,550.
Bitcoin to $120,000 by March: Max Keiser
Many experts and influencers in the crypto community, including former Binance CEO Changpeng Zhao (CZ), have made positive comments about the event. CZ tweeted optimistically: "Another country holding Bitcoin, welcome to the US."
The executive order establishing the Strategic Bitcoin Reserve (SBR) commits the U.S. government to purchasing a total of 1,000,000 Bitcoins over four years, or 250,000 Bitcoins per year of President Trump's term.
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According to Bitcoin advisor to the president of El Salvador, Nayib Bukele, Bitcoin could surge above $100,000 in a matter of hours following the news, and is predicted to reach $120,000 by the end of the month.
Bitcoin Symbol Explained by Grok AI
Binance exchange also posted a short tweet about Bitcoin, including the ₿ symbol – Bitcoin's signature symbol. When asked to explain, AI bot Grok provided information that the ₿ symbol represents Bitcoin and was officially introduced in the Unicode 10.0.0 system in 2017, along with other currency symbols such as $ and €, marking Bitcoin's status as a legitimate currency.