For the co-founder and current CEO of the largest exchange by trading volume, BTC does not have such a high degree of volatility . In a recent interview with the Financial Times, CZ said that Apple and Tesla shares generate bigger price swings than the world’s leading cryptocurrency .
Comparing assets with Bitcoin
Known worldwide, Apple is currently the largest company in market value, with a capitalization of around 2.6 billion dollars. According to InfinityMarketCap , its shares are the second most valuable financial asset in the world, second only to gold , which has a capitalization of $12 trillion.
The company’s shares started 2020 at around $70 and have been on a strong uptrend ever since. In January of this year, AAPL reached a new all-time high of $183, an appreciation of approximately 160%. Since then, they have fallen by around 13% and are currently trading around $160 .
Tesla occupies the 8th place in the ranking of the largest financial assets, with a capitalization of more than 925 billion dollars. Its shares were trading at $90 in early 2020, rising around 1,300% to an all-time high of $1,243 reached in November 2021 . Since then, the TSLA has trended lower, currently priced at 930, a 25% drop.
By contrast, Bitcoin started 2020 just above $7,300, up 845% from its all-time high of $69,000 reached in November of last year. Currently trading at $38,300, the cryptocurrency has accumulated a 44% drop since then. As a result, the asset is the 10th most valuable in the world, with a market value of $730 billion.
Good news for Binance
In addition to making comparisons between BTC and Big Tech stocks, CZ commented on the efforts Binance has made to comply with the rules of various financial regulators around the world.
In recent months, the exchange has suffered a wave of restrictions and investigations in several countries, including the United Kingdom, South Africa, and even Brazil, where it has had to limit some of its operations. However, the CEO of the company is optimistic about it, citing Binance US as an example:
“We have 45 state licenses in the United States. Elsewhere, including the G7 countries, we are making very good progress and I think we will have some good news to share in the coming weeks.”