​“Bitcoin is not dead.” Binance CEO supports the first cryptocurrency on Twitter

What’s new? Binance exchange CEO Changpeng Zhao said on Twitter that bitcoin is not dead. He was supported by Michael Saylor, head of MicroStrategy’s board of directors, calling the asset “an immortal, indestructible, incorruptible foundation upon which to build a better world.” As of November 21, 12:40 UTC, BTC is trading at $16 082, down by 2,66% in 24 hours, according to Binance.

#bitcoin is not dead. We are still here. — CZ 🔶 Binance (@cz_binance) November 20, 2022

Who else believes in BTC? Billionaire investor Bill Ackman said that the crypto industry “is here to stay,” despite recent events such as FTX’s crash. He admitted that he was initially skeptical because he believed that the telephone, the Internet, and cryptocurrencies had “one thing in common” — the ability “to facilitate fraud.” According to Ackman, with proper oversight, digital assets can benefit society and the global economy.

The telephone, the internet, and crypto share one thing in common. Each technology improves on the next in terms of its ability to facilitate fraud. As such, I was initially a crypto skeptic, but after studying some of the more interesting crypto projects, I have come to — Bill Ackman (@BillAckman) November 20, 2022

Ackman stressed that all bona fide participants in the ecosystem should be highly motivated to expose and eliminate fraudulent projects, as those increase the risk of regulatory intervention.

Previously, the billionaire suggested that the tokens have no intrinsic value and were simply “a modern-day version of tulip mania.” However, after examining “a number of interesting crypto projects,” Ackman changed his mind. He now believes that technology can help build “useful businesses” that could not have been created without it.

Ackman called the Helium and DIMO projects useful. The first builds a decentralized Wi-Fi network, the second uses the technology to collect onboard data from cars.

The billionaire said he is a “small investor” in crypto projects. His investments include DIMO, Goldfinch Finance, NFT project ORIGYN, TaxBit, and TRM Labs. Ackman valued his investments in the crypto industry at about 2% of his total assets and called himself “a careful investor.”

Ackman also noted the problem of unethical providers who can create tokens to implement the Pump & Dump scheme.

Earlier, businessman Tim Draper once again confirmed his prediction on the rate of BTC. In his opinion, the price of the asset will rise to $250 000 in 2023, despite the collapse of FTX. Draper said that recent events once again demonstrated the greatest vulnerabilities of centralization. Thus, the collapse of FTX will provoke even more decentralization in the crypto industry, the businessman noted.