The latest major bullish rally in the price of Bitcoin has put cryptocurrencies on the radar of every investor on the planet. However, for many, crypto assets remain a magic formula. A method by which there is a chance to get rich quickly with little effort. For that reason, and given the general drop in the price of cryptocurrencies, Changpeng Zhao clarifies in the Tweet of the day that Bitcoin is not a get-rich-quick scheme.
Bitcoin is not for getting rich
Today, many investors must be concerned. And, after having exceeded $ 50,000 for the first time in its price, the price of Bitcoin has experienced several days of constant fall. Standing at the time of writing this article in the order of $ 44,313 per BTC. Dragging all the main crypto assets on the market with it in its fall.
Although for the oldest users of the world of cryptocurrencies, a fall like this is common. For the hundreds of new investors who have entered the crypto market in recent months, a collapse of this magnitude in the price of cryptocurrencies is a true catastrophe. Especially for those who saw Bitcoin and other crypto assets a way to get rich quick.
Therefore, although after the radical increase in the price of Bitcoin in recent months, it is easy to believe that BTC is just a means to generate large profits with little effort. As the CEO and founder of Binance, Changpeng Zhao makes clear, the truth is that cryptocurrency is a financial asset to maintain in the long term, and not a means of wealth in the short term.
«Misconception: Bitcoin is not a get-rich-quick scheme. It is a long-term business. This is not financial advice».
Thus, with this message Changpeng Zhao tries to explain to those who entered the crypto market purely motivated by speculation, that Bitcoin is a long-term project. Therefore, those who enter expecting to get rich overnight will have to face the disappointment of the volatility of the crypto world.