In light of Bitcoin reaching a new historic high, Dogecoin founder Billy Markus and Binance CEO Changpeng Zhao shared their thoughts on the current crypto market.
Billy Markus' Take on the New Bitcoin High
Billy Markus, known by the pseudonym Shibetoshi Nakamoto, commented on Bitcoin's new record, which approached $112,000. In his tweet, he shared a BTC/USD chart with the cheeky caption: 'Bitcoin boner.' This reflects Markus's typical style, as he rarely takes crypto investments seriously. He previously mentioned that he only owns 0.006 BTC and will not sell it until the price reaches $1 million per coin.
Changpeng Zhao's Reaction to the Historic High
Changpeng Zhao also responded to Bitcoin achieving a new record. He recalled his earlier tweet stating that 'everything before the next ATH is a dip.' CZ expressed hope that users were able to buy Bitcoin at lower prices. He also pointed out that network growth, such as Bitcoin's, may align with Metcalfe's Law, suggesting that an increase in user numbers significantly raises network value.
Key Insights on Cryptocurrency Investments
Both experts, Markus and Zhao, highlighted the uniqueness of the crypto market, which according to Markus is influenced by chaotic forces rather than logic. Markus has expressed skepticism about the stability and predictability of crypto investments, while Zhao emphasizes the importance of increasing user numbers, which may drive asset prices higher.
The comments from Billy Markus and Changpeng Zhao illustrate varied perspectives on the current situation in the crypto market and the importance of understanding asset dynamics.
