Binance founder Changpeng “CZ” Zhao has addressed claims that “Bitcoin is dead” by sharing a link to the “Bitcoin is Dead” website on Twitter. The website tracks articles that predict the demise of Bitcoin, but CZ emphasized Bitcoin’s resilience despite the ongoing skepticism. Despite predictions of its death, Bitcoin remains the most widely recognized cryptocurrency and continues to grow in market prominence.
CZ’s post highlights how Bitcoin is still seen as a crucial technology for decentralized finance, even though it faces scrutiny from traditional finance. Binance, the largest cryptocurrency exchange, supports Bitcoin’s role in the market and has played a significant role in its adoption. Bitcoin’s recent surge in price has further silenced critics.
Trading at $89,482, Bitcoin has achieved a 24-hour high of $89,783 and a low of $80,750, with a 24-hour trading volume reaching $135 billion. Its market cap has surpassed silver’s, showing a 30% gain over the past week and a 42% increase over the past month, cementing its position as a dominant asset in the global market.
Despite the support for Bitcoin, Binance and CZ Zhao face a recent lawsuit from FTX, which demands the return of $1.8 billion in funds. This ongoing case highlights the regulatory challenges Binance faces while driving forward the adoption and stability of Bitcoin in the broader ecosystem.
