Binance’s CZ Says Gold is ‘Not a Limited Supply Asset,’ Challenges Bitcoin’s Value

Changpeng Zhao, CEO of Binance, known as CZ, took to X (formerly Twitter) on Saturday, asserting that gold isn’t a limited supply asset. His statement ignited a divide between crypto enthusiasts and those who hold traditional investments in precious metals. CZ emphasized his belief in Bitcoin’s inherent scarcity due to its capped supply, contrasting it with the more readily available nature of gold. He offered no further elaboration on this assertion. This came at a time when gold’s rally seemed to be plateauing.