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“Crypto Will Grow 1000x and More”, Binance Changpeng Zhao Disagrees With Buterin

Chaopeng Zhao, CEO of world’s leading cryptocurrency exchange Binance, shared his opinion on Vitalik Buterin’s recent words on the growth of the blockchain industry.

The Ethereum founder Vitalik Buterin earlier stated that the industrial growth capacity has reached the “ceiling”, saying in an interview with Bloomberg days ago,

“There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.”

Regarding this, many blockchain practitioners have different opinions. His fellow co-founder Joseph Lubin stated later that this is just the beginning.

Binance CEO Zhao also commented in a twitter yesterday September 12, “Crypto will absolutely grow 1,000x and more”, just reaching USD market cap will give it close to 1,000x, and the derivatives market is much bigger.

He further stated that traditional market size shall not be used to measure potential of new technologies or industries, and mentioned the internet of 2000 and big names today but struggled back then like Google, Facebook, Uber, and Alibaba to support it.

In response to all the misunderstanding, Buterin stood out explaining what he actually meant is further growth of crypto must come from “depth” (actual usage) instead of bringing in more attention, and there ended the tit-for-tat dispute.

As bitcoin’s month-long decline cools the market down, the days of unprecedented overnight wealth are behind us. Some pessimists said the blockchain and cryptocurrency industry has hit a ceiling; while those who are upbeat about the nascent industry still have faith and long-term vision.

“Assets that achieve significant breakthrough or massive adoption can definitely grow 1000x if the right market conditions are in place.” As a comment reads.

In a bearish market, it is wise for investors to learn more about the ecosystem and the underlying technology powering it, and for blockchain companies, go deeper to bring more real-world applications.


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