Richard Teng, who took over as CEO after Binance’s incredible originator Changpeng Zhao, talked around Bitcoin Spot ETFs, which are considered by specialists to be endorsed as it were a matter of time.
Reminding that Bitcoin is frequently called advanced gold, Teng compared BTC ETFs and gold ETFs.
The primary gold ETF propelled came in November 2004, and the cost of gold at the time was $700 an ounce, Teng said. Agreeing to Teng, after the ETF endorsements, the gold cost begun to rise and come to $2,450 in 2011 inside 7 a long time.
Teng in this way suggested that the BTC cost may moreover rise after Bitcoin Spot ETFs. The unused Binance CEO included at the conclusion of his post that what he said was not speculation counsel.
Teng is known for particularly dodging saying cryptocurrency costs. Whereas past CEO CZ regularly comments on the cryptocurrency showcase, Teng takes a more detached part inside the harmonization participation prepare started with the US.
In any case, Teng’s explanation nowadays was compared to Changpeng Zhao’s past posts. There’s no modern explanation from Zhao regarding Spot ETFs however.
*Usually not venture exhortation.