Future Looking Bright for Bitcoin

Future Looking Bright

A Twitter user tweeted about how he wished he joined the bandwagon of Crypto users back in 2013, at a time when the Bitcoin was still in its infant stage. In reply to the tweet, Bitcoin billionaire, Changpeng Zhao, who is the founder of the crypto exchange, Binance posted an encouraging message for crypto fans who felt that they missed the bus, on the cryptocurrency bandwagon. In his message, he assured all the crypto fans that the Bitcoin revolution was still “at the beginning of the beginning.”

The Bitcoin back then in 2013 rallied between the $13 and $947 range. This is much lower as compared to the current trend which is around the $3600 mark.

The optimistic Zhao assured his crypto fans that the best was yet to come and crypto fans need not be upset. In his reply, he wrote “That’s exactly what I thought back in 2013, “damn, I am too late. I wish I started early like those other guys.” and “I will say the same thing I heard back then. We are still early, the beginning of the beginning.”

Erik Voorhees who is the CEO of crypto exchange ‘Shapeshift’ complimented and praised Zhao for its outstanding performance and success of Binance in such a short period. He tweeted “One cannot but be impressed and inspired by the incredible success that Binance has achieved over the last 1.5 years. CZ Binance, it’s been awesome watching your ascent, keep up the good building.”

In reply to his wishes, Zhao expressed how grateful he was to Voorhees and marked his meeting with him in 2013 as a turning point in his life.

Shapeshift Lays off One-Third of Manpower

Media reports suggest that Shapeshift is one of the latest crypto companies to have laid off one-third of its employees as a result of the harsh crypto winter. The crash of the bitcoin in 2018, has caused Shapeshift to lay off approximately 37 of its employees.

Voorhees has admitted that he is responsible for the current state of affairs of his company but at the same time has justified himself saying that as a CEO, some financial risks have to be taken.

He said in a statement, “As a company, our greatest and worst financial decision is the same: to embrace substantial exposure to crypto assets. Much of our balance sheet is comprised of them. We accept the volatility, and we accept the risk. I can lay this mistake at nobody’s feet but my own.”

Although the current market scenario is not up to the mark, Mr. Changpeng Zhao is pretty optimistic about the future of the crypto market. In a statement, he said “Binance is ready to survive any number of years, no matter if it’s bear or bull…Our aim is much longer than another year. Our aim is 10, 50, 100 years. So we’ll be here for a while. Once I learned about crypto and how bitcoin works, I just understood that’s the future.”

Kelly Clark has been a news writer for more than 5 years covering politics, business, economy and much more. She has recently joined FinanceOrange as a news editor. She holds master degree of business administration but decided to take a chance on writing. She loves reporting on finance industry.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *