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CEO of Binance USA on Bloomberg - "Lets Go To $100K" Bitcoin - Jan 4th 2021 - YouTube
Channel: BITCOIN
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well i've always been fascinated by how the聽
world works and a lot of the things that聽聽
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drive that are money so my fundamental聽
understanding was in foreign exchange markets聽聽
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learning about the currencies and how they聽
moved around the world when i realized that聽聽
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there was a universal currency that聽
everyone could accept follow trade聽聽
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and be a part of that really captured my聽
attention so that's that's how i got into bitcoin聽聽
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knowing that everyone can participate in bitcoin聽
so here you are at uh binance us tell us more聽聽
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about what finance is what role it plays in this聽
market and um how you came to go again for being聽聽
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a currency trader to being this you the ceo of聽
this uh us uh division yes so you think about how聽聽
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a market is built so there's infrastructure聽
players and that's certainly where i see myself聽聽
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and our team fitting in the the idea of giving聽
access or getting access into these new markets聽聽
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is critical for these currencies to begin to trade聽
that involves connecting the liquidity or those聽聽
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market makers as well as those interested buyers聽
and the different segments of the market that need聽聽
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to have access to these cryptocurrencies be聽
it retail traders be it institutional traders聽聽
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vietnam even treasuries that we're seeing want聽
access to these digital assets that's really where聽聽
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binance us is a u.s regulated safe marketplace聽
allowing for buyers and sellers to interact聽聽
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and be able to trade up to 50 currencies聽
whether on their phone api or on website
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but actually when we've seen you take a look at聽
the recent rally katherine i find it interesting聽聽
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that the ownership concentration when it comes聽
to these you know so-called bitcoin whales has聽聽
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actually increased along with the rally so what聽
does that tell you about retail concentration聽聽
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or retail broadening and and what it means for the聽
more mainstream development of the asset class one聽聽
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of the fascinating components of digital assets is聽
that 24 7 ability to trade and this is a shocking聽聽
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change for us for those that have not been able聽
to trade different assets or even different events聽聽
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over the weekends at odd hours around the world so聽
bringing digital assets into an area where most of聽聽
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the us has been sitting put this is a chance聽
for them to kind of interact with the future聽聽
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that's that's ahead of them so where we're seeing聽
people participate on the weekends in the evenings聽聽
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around digital asset trading this is bringing聽
people together under understanding where their聽聽
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future is headed and in that place people are聽
voting and seeing it from their trading activity聽聽
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we saw a three times increase of our easiest way聽
to buy bitcoin over the last seven days that's聽聽
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that's an insane amount of new users coming into聽
our platforms coming in through our mobile devices聽聽
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or our mobile apps to be able to trade bitcoin聽
through binance us so it's really remarkable to聽聽
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see this both led by the institutions approving聽
it and validating these uh these cases as well as聽聽
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seeing the retail support come in uh聽
eager to get a part of this digital future聽聽
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but we're looking at data that suggests that聽
over 70 of bitcoin accounts actually hold less聽聽
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than 0.01 of bitcoin in them so is it true to say聽
that obviously the big market moves the the market聽聽
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you know money price setters are really still聽
the early adopters and the big players here聽聽
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you can see the early adopters certainly聽
experiencing the most euphoria they've ever had聽聽
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we're crossing some technical lines that they've聽
only been dreaming of so the last ones that are聽聽
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coming into the market are definitely the first聽
ones that are learning about bitcoin a little聽聽
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later in the game than those that were early on聽
adopters or kind of the ogs of bitcoin the best聽聽
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part about these markets though is there's not聽
a discriminatory aspect you can have internet聽聽
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access and the understanding of how bitcoin works聽
with the ability to come into any marketplace and聽聽
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become uh available into this market so i really聽
want to emphasize that age is not you know bitcoin聽聽
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versus wine the longer someone holds on to it聽
certainly is exciting to experience years of聽聽
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this development but anyone can participate in聽
these markets and there's certainly an active聽聽
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growth in terms of the jobs that people are able聽
to take on in digital assets as well as just聽聽
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understanding digital assets yourself it's never聽
too late to start certainly what about a safety聽聽
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what about um cryptocurrencies that have been聽
hacked i know 2020 was a much smoother year defy聽聽
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apparently still lost millions of dollars 2019聽
was amazing though 12 big cryptocurrency hacks聽聽
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uh you know how how what do you tell us about聽
that it seems to me that this is still a聽聽
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vulnerable system if if hacks can still occur聽
and again what you know maybe 2020 wasn't bad聽聽
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but maybe the hackers are just waiting to聽
figure out another way to go to it in 2021聽聽
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if you break it down into playing in your聽
backyard has some risk elements playing on the聽聽
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internet has a lot more every time you're going聽
to be interacting with the internet be it for聽聽
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your own communication be it for your own data聽
collection be it for your own money use or digital聽聽
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assets you really need to take precautions聽
in understanding how the internet works聽聽
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that involves understanding your own privacy聽
taking care of how you're storing your information聽聽
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and really being alert at all times that's one聽
of the most important things about being involved聽聽
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in digital assets is you just need to take those聽
steps and measures to make sure that you are doing聽聽
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so safely are you confident that that the various聽
exchanges and the various uh companies that are聽聽
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are creating all these different kinds of聽
cryptocurrency products have this under聽聽
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control cyber security and our security of our聽
personal users information is critical that is聽聽
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our top priority to make sure that their聽
funds are safe as well as the information聽聽
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that they provide for us to go through our kyc聽
and bsa program to understand who our users are聽聽
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those are all kept safely and this is something聽
that we continue to improve upon as well as keep聽聽
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the main focus of the platform in addition to聽
understanding how the liquidity can be improved聽聽
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and as well as the product so i think that's you聽
know you've got to have a priority and an emphasis聽聽
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towards the security for your user's sake and for聽
your platform success first before anything else聽聽
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so your call for potentially a hundred thousand聽
by the end of 2021 that makes you know a 50聽聽
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rally in december look like peanuts right do you聽
tell us about why you're convinced that that's a聽聽
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level that it's going to get out and is that聽
what you see fair value as being for bitcoin聽聽
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i i grew up a foreign exchange trader at morgan聽
stanley so i know that a crystal ball is a crystal聽聽
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ball if i was good at calling price predictions聽
i probably wouldn't be working as hard as i am聽聽
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so i certainly see the work that we've got cut聽
out for us finance us is not yet operating in聽聽
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all 50 states so that's a goal of ours for 2021 to聽
operate in more states we've also got to encourage聽聽
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the education of people fully understanding the聽
risks at hand in terms of digital assets but also聽聽
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the benefits and letting them get access聽
into this next digital future for them so聽聽
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we've got our work cut out for us anyone聽
involved in bitcoin right now and those聽聽
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were we're not even done yet in terms of the聽
the work the effort and the innovation that's聽聽
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ahead as well we're seeing great efforts on the聽
regulatory front just a recent piece coming out聽聽
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from the occ with brian brooks allowing for聽
or providing a guidance around stable coins聽聽
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and being out allowed to be used by u.s banks聽
for settlement same way as the infrastructure聽聽
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that we use for swift or ach possibly opening the聽
door to more access through digital dollars so聽聽
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with these components in place we certainly have聽
a lot of momentum headed in the right direction聽聽
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i can certainly only cheer for bitcoin to go聽
higher from here does that mean you're walking聽聽
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back from that 75 000 to thousand called not a聽
chance not a chance i'm bullish let's go 100.
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