Binance CEO Changpeng Zhao is confident that the capitalization of his exchange’s cryptocurrency (BNB) will easily exceed the capitalization of Amazon and Apple.
This possibility was raised by a popular blogger from Chile named Davinci Jeremie. It wrote, that he believes in the growth of BNB capitalization above Apple and Amazon, as “it is a stock, cryptocurrency and blockchain with support for smart contracts.” However, he did not name any other growth drivers for BNB.
“This is not a security, but the rest to the point. Where we are heading, we will not need securities, ”said the CEO of Binance.
At the moment, the capitalization of BNB is estimated at $ 65.4 billion. This is the third cryptocurrency in terms of capitalization after bitcoin and ether. However, such monsters as Apple and Amazon are still a long way off – tech giants are valued at $ 2.09 trillion and $ 1.63 trillion, respectively. Therefore, the BNB exchange rate needs to grow 30 times to compete with the above companies.
So far, Bitcoin remains the only cryptocurrency whose capitalization exceeded $ 1 trillion. It took the first cryptocurrency 12 years to reach this mark. However, after a pullback from the April highs, BTC capitalization fell to $ 700 billion.
“The best cryptocurrencies outperform any of the best traditional assets in terms of capitalization growth. And the trend will continue in the next decade, ”Zhao said.
Earlier, the CEO of Binance said that Bitcoin and blockchain have reached such a level of development that no attempts by regulators to ban them will work. Instead, regulators need to develop clear regulations to oversee the industry.
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