Former CEO of leading exchange Binance, Zhao Changpeng, candidly shared his challenging journey with Bitcoin. Zhao recounted an interesting story about buying Bitcoin in 2014 when the market was in decline, and his determination was tested. With limited funds, he was unable to purchase more during the price drop and could not take profits during tough times. It was a difficult start.
However, the story does not end there. Those initially difficult days have turned into a resounding success story, as the price of Bitcoin has seen impressive growth—over 35,800% since he started buying.
An investment of less than $3,000 at that time could potentially yield millions of dollars in profit today. For Zhao, his perseverance and 'diamond hands' have paid off, with his net worth estimated to exceed $60 billion.
This is particularly important because the crypto market is currently under pressure, recently liquidating $1.7 billion in derivatives positions. However, Zhao's message is not bragging; he simply wants to highlight the role of luck, timing, and the lessons everyone can take from it while subtly warning others.
"I do not recommend anyone follow my strategy," Zhao Changpeng said, noting that while his strategy was profitable, the market conditions at the time played a key role, and not everyone can replicate the same results.
The important lesson here is that success does not come from implementing a perfect strategy, but from perseverance. A bigger lesson is that investment strategies need to be personalized, flexible, and adaptable to the market context. However, the history of Bitcoin shows that sometimes, patience and the ability to stick it out are the keys to success, rather than trying to take any action.
Disclaimer: This article is for reference only and does not constitute investment advice. Investors should conduct thorough research before making decisions.