- Binance CEO claims investors only put 10% of their net worth in crypto.
- On a positive note, Bitcoin crossed $30k for the first time since June 2022.
While the number of crypto investors has increased in recent years, the overwhelming majority of people worldwide are yet to embrace the Web3 revolution. According to a recent report, just 4.5% of the world’s population has invested in cryptocurrencies.
Interestingly, Changpeng Zhao, the CEO of the largest crypto exchange, Binance, shared a contrary opinion, taking the figure far less. Zhao argued that of the world’s minority crypto investors, below 10% of their net worth is in crypto. “So, it is less than 0.45% adoption net worth wise,” the Binance CEO concluded.
Notably, a top-ranking financial media report demonstrates that the wealth of people worldwide stands at $13.7 trillion as of 2023. And according to CoinMarketCap data, the overall crypto market share is approximately $1.25 trillion, nearly 10% of the global wealth, as Zhao claimed.
Furthermore, FatMan, a well-known figure from the Terra Luna community, expressed that crypto adoption should mean “using blockchain technology in a meaningful and useful manner” and not necessarily “having 100% of your net worth in crypto.”
Additionally, a crypto enthusiast opined that the crypto industry could feel like an echo chamber where elaborate schemes and gambling are promoted. Therefore, “putting all of one’s assets into the volatile market is not a wise financial decision.”
In an exciting turn of events, the price of Bitcoin crossed $30k for the first time since June 2022, when Terra Luna imploded. Similarly, Ethereum is on track to cross the $2k price point.