Changpeng Zhao, known as CZ, the co-founder of Binance and its former CEO, has shared an important proposal on the X platform (formerly Twitter). During his recent visit to Kyrgyzstan, CZ recommended that the government establish Binance Coin (BNB) and Bitcoin (BTC) as the foundation for its Strategic Cryptocurrency Reserve.
A month prior, CZ had accepted an invitation from Kyrgyz President Sadyr Japarov to join the country’s National Crypto Committee. His involvement has paved the way for a new partnership between Kyrgyzstan and Binance, aimed at facilitating internal cryptocurrency payments within the country.
This proposal comes at a time when several nations are exploring the concept of Strategic Crypto Reserves, a model already adopted by the United States, which holds approximately 200,000 Bitcoins for this purpose.
As part of this initiative, Binance has signed a memorandum of understanding (MOU) with Kyrgyzstan, not only to launch crypto payments but also to introduce educational programs on blockchain and cryptocurrencies through Binance Academy. The MOU was finalized on April 3, according to a previous X post by CZ.
CZ Weighs In on Bitcoin vs. Gold
Over the weekend, CZ shared his thoughts on gold, indirectly contrasting it with Bitcoin. In a May 3 tweet, CZ noted, “Not against gold, but it’s not a limited supply asset,” a remark that sparked discussions among his followers, many of whom pointed to Bitcoin’s capped supply of 21 million as a key differentiator.
As a staunch supporter of crypto, particularly Bitcoin and BNB, CZ has been vocal about his own holdings. He has previously stated that he holds only Bitcoin and BNB, leaving him unable to take advantage of Bitcoin price dips, as he is fully invested in crypto. At present, BNB is priced at $593, while Bitcoin trades slightly above $94,000.
Related Topics:
