Changpeng “CZ” Zhao, the founder and former CEO of Binance, has delivered a stark message to investors rushing into crypto with unrealistic expectations.
In a statement shared with his over 10 million followers on X (formerly Twitter), Zhao warned that cryptocurrency should not be treated as a get-rich-quick scheme.
“If you want to get rich quick, don’t touch (and blame) crypto,” he said in a July 7 post, responding to commentary by crypto analyst EmperorBTC, who claimed that 80% of new investors are driven by FOMO (fear of missing out).
Zhao’s remarks come amid a broader market resurgence, with Bitcoin reclaiming bullish territory and altcoins showing renewed momentum.
However, the Binance founder cautioned that hype-driven investing often leads to losses, particularly when driven by emotion rather than informed strategy.
Most Investors Underperform Bitcoin, Says Zhao
Drawing from years of experience in the crypto industry, Zhao reiterated that most retail investors fail to outperform Bitcoin itself. He emphasized that this is largely due to poor advice, emotional trading, and a lack of understanding about long-term value.
In previous posts, Zhao has noted that many investors make the mistake of trying to time the market or act on impulse, rather than taking a disciplined approach. “The best strategy for most is often to simply hold,” he said, referring to the popular crypto mantra “HODL” (hold on for dear life).
Supporting this stance, Zhao cited data suggesting that long-term holders of Bitcoin and other top-tier cryptocurrencies tend to outperform active traders who frequently enter and exit positions.
Patience Could Pay Off: Bitcoin to $1 Million?
Zhao remains bullish on Bitcoin’s long-term prospects. In May, he publicly stated that Bitcoin could reach $1 million in the current market cycle, citing increasing institutional adoption, expanding global recognition, and the weakening confidence in traditional fiat currencies as contributing factors.
Though the projection is ambitious, it reflects broader sentiment in some parts of the crypto community. Analysts at ARK Invest and Bitwise have also forecast substantial long-term growth for Bitcoin, especially as spot ETFs, sovereign interest, and banking integrations expand.
However, Zhao stressed that such outcomes require patience. “Sometimes, doing nothing and holding through volatility is the hardest, but most effective strategy,” he said in a June post, emphasizing the importance of mental resilience.
Industry Lessons in a Bullish Cycle
Zhao’s comments serve as a broader warning as speculative interest begins to spike again in crypto markets. With Bitcoin recovering from last year’s lows and institutions gradually increasing exposure, the temptation to chase fast profits is rising.
Recent studies from Glassnode and CoinShares have shown a notable uptick in retail wallet activity and crypto fund inflows, signaling renewed interest from both ends of the market.
For Zhao, the takeaway is simple: investors should approach crypto with a long-term mindset, realistic goals, and a focus on education. Those entering the space for instant returns are, in his view, likely to exit with regret.
