Changpeng Zhao, the founder of Binance, has recently faced significant backlash over his comments regarding buy-and-hold trading strategies. In a surprising turn, Zhao has labeled this criticism as a coordinated attack rather than a genuine discussion within the crypto community. The publication provides the following information: Zhao believes that the negative reactions are orchestrated efforts to undermine his credibility and the platform's reputation.
Zhao's Advocacy for Buy-and-Hold Strategy
On January 25, Zhao expressed his belief that very few trading strategies can consistently outperform a buy-and-hold approach, which he personally advocates. This statement sparked a flurry of negative reactions across social media platforms, with numerous accounts voicing their dissent.
Response to Criticism
In his defense, Zhao pointed out that the negative feedback seems to be orchestrated, noting that many of the accounts criticizing him appear to be unfamiliar and are posting similar messages targeting his comments. He further clarified that his perspective is not a blanket statement applicable to all cryptocurrencies. He urged investors to conduct their own research before making any investment decisions.
In contrast to Changpeng Zhao's recent comments on trading strategies, Ethereum co-founder Vitalik Buterin has revealed a profitable approach on Polymarket, earning around $70,000. For more details, see the full story here.
