Changpeng Zhao Defends Bitcoin as Hard Asset on X

TLDR

• Changpeng Zhao described Bitcoin as a hard asset in a post on X.
• He said Bitcoin was designed as an inflation hedge rather than for short-term trading.
• Several community members questioned his claim and pointed to Bitcoin’s sharp price swings.
• Zhao previously stated that he believes Bitcoin could reach $1,000,000 over time.
• Robert Kiyosaki predicted that Bitcoin and other assets would surge after a market crash.

Binance founder Changpeng Zhao addressed Bitcoin’s recent rebound and described it as a hard asset. He shared his view on X while Bitcoin traded near $68,000 after a weekend pullback. However, several community members challenged his definition and cited sharp price swings.

Changpeng Zhao Says Bitcoin Is a Hard Asset

Changpeng Zhao posted on X that Bitcoin was not built for short-term trading. Instead, he said it serves as an inflation hedge during difficult economic periods. He wrote, “Bitcoin is a hard asset. (Other top crypto too.)” He stressed that holders should focus on long-term adoption and value.

However, several users disputed his claim under the same thread. One user replied, “Hard assets don’t usually fluctuate 20% in a week.” Another user wrote, “If it can lose 50% in months, calling it a ‘hard asset’ is a stretch.” These responses focused on Bitcoin’s volatility rather than its supply model.

Earlier this year, Zhao also projected a long-term price target for Bitcoin. He said he believes Bitcoin could reach $1,000,000 over time. However, he added that the move would likely take many years. He did not provide a timeline for that forecast.

Robert Kiyosaki Predicts Bitcoin to “the Stars”

Robert Kiyosaki, author of “Rich Dad Poor Dad,” repeated his forecast of a financial crisis. He stated that he expects markets to crash soon. He said that once the crash happens, Bitcoin and other assets will surge. He wrote that Bitcoin, Ethereum, gold, and silver are “going to the stars.”

Kiyosaki argued that crashes create buying opportunities for real assets. He said, “The best time to get rich is in a crash.” He predicted that Bitcoin could reach $750,000 within a year after such an event. He also projected Ethereum at $95,000, gold at $35,000, and silver at $200 per ounce.

Bitcoin traded below $70,000 on Monday and reached $68,000. The weekend decline measured about 3.35%. The drop followed hawkish signals from the Federal Reserve. Escalating tensions in the Middle East also pressured markets.

As a result, broader crypto and stock markets moved lower. Traders reacted to macroeconomic signals and geopolitical risks. Bitcoin’s price action reflected those external factors. At the time of reporting, Bitcoin held near $68,000.

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