Changpeng Zhao, the founder and CEO of Binance, the world's most voluminous cryptocurrency exchange, published an article yesterday where he announced his 2021 expectations after a record BNB burn.
Starting his article by stating that the amount of BNB burned yesterday was the highest amount ever, CZ announced that the total supply decreased to 170 million.
Stating that their goal of burning 100 million BNB continues and they will do this faster, the successful CEO stated that they will burn more BNB from their reserves every day and shared his ideas about Bitcoin and altcoins.
CZ's reviews are as follows:
The rise of bitcoin
Maybe some of you will hate me for this promise and some of you will like it, but I said.
(Okay, I stole this word from A. Pompliano)
Joking aside, I obviously felt similar emotions in 2013 and 2016-17 when I saw Bitcoin hitting new peaks in the last quarter and after the new year. I am not surprised by this rise. The underlying factors of Bitcoin have not changed. It is a being that is superior to everything that preceded it. It is money, ideology, technology, tool. I'm sure we are only at the beginning of the road even for 42 thousand dollars. When I tweeted "If you sold less than $ 10,000 of Bitcoins, give yourself a slap," some of them laughed a little at me. I don't think they're laughing now. After that time, I have made many tweets that I have revised to be 100 thousand dollars to 249 thousand dollars. To be honest, I can add $ 1 million, $ 10 million and more to my estimates. I'm not really good at predicting the future. I do not know when prices will reach these levels, but I know they will.
Considering that I am overly optimistic about Bitcoin, what do other coins think of me?
Altcoins
I'm not a bitcoin maximalist. I am not DeFi maximalist or central exchange maximalist either. I believe all of these solve different problems in our ecosystem. It all matters. fixed money and fiat money channels are also important. People do not beam crypto coins. They are passing through fiat money. We need to create bridges to get them inside.
Bitcoin is the entry coin to crypto. When people learn about blockchain or crypto, they first learn about it. In addition, it is the most decentralized, most natural, most apolitical, and least affected by an individual or institution. It also has the most dominant, dominant network effect. I believe that Bitcoin will remain as a global reserve cryptocurrency for a long time.
Still, Bitcoin has its limits. It is a fairly simple blockchain. Given its decentralized nature and past conflicts between developers, technical progress is likely to be slow. The most important are capacity constraints. Without tier 2 solutions, it can only handle 350,000 transactions per day. Applications used by large masses such as Facebook or TikTok, on the other hand, can make 10 billion transactions (or interactions) per day.
So I believe we need many more blockchains for real audience adoption. I usually call these application blockchains. They can be for specific and / or high throughput applications used by the masses. As I've said many times before, I see a future with thousands of blockchains and millions of tokens. Therefore, changing these tokens will be an activity that receives great demand.
