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25 June 2021

Binance CEO says volatility ‘is not unique to crypto’: Data shows it’s Bitcoin’s jet fuel

Binance CEO says volatility ‘is not unique to crypto’: Data shows it’s Bitcoin’s jet fuel


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During an interview with Bloomberg TV on May 3, Binance CEO Changpeng Zhao suggested that Bitcoin (BTC) "is probably less volatile" than the stock prices of Apple (AAPL) and Tesla (TSLA).

Zhao argued that crypto's volatility was not unlike the stock market, adding: that "volatility is everywhere" and that "it is not unique to crypto."?

The first obvious reading from the chart above is that both Bitcoin and Tesla share different volatility levels when compared to trillion-dollar stocks like Apple and Amazon.

Another thing to consider is that Tesla's market capitalization is $633 billion, and it has yet to post a quarterly net income above $500 million.

Therefore, Zhao may have simply incorrectly stated that Bitcoin's volatility is similar to the stock of trillion-dollar companies.

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cointelegraph.com
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