Binance CEO Changpeng Zhao has argued that Bitcoin is probably less volatile than stocks with a similar market cap — including Apple and Tesla.
Speaking to Bloomberg News, he stressed that volatility can be seen in all asset classes… and it isn’t something that’s exclusive to the crypto market.
CZ estimated that there are now 300 million people in the crypto markets.
He explained that many people who enter the space end up learning about Bitcoin first, before moving on to other coins after discovering their use cases.
When asked whether people end up jumping on cryptocurrencies because they see a high price, he added:
“There are people who just follow other people, they follow the herd … The herd followers are less committed. Whenever there’s some negative news, they run away; whenever there’s positive news, they rush in. They do cause more volatility versus the diehard fans who understand and really love the projects.”