Binance CEO Says 2021 Saw Fivefold Jump in Crypto Investors

MOSCOW (Pakistan Point News / Sputnik - 10th December, 2021) The number of investors wishing to put their money into cryptocurrencies rose five times within a year, Binance CEO Changpeng Zhao told Sputnik.

"I think there is probably a five-X jump in the number of institutions from this year versus last one, from now versus the beginning of this year. This year, we've seen tremendous growth," he said in an interview.

Zhao, who founded the world's largest digital coin exchange Binance four years ago, said the growing popularity of cryptocurrencies was best reflected by Bitcoin.

Its price rose to an all-time high of over $68,000 during a buying spree in November.

"It is further evidenced from the price of Bitcoin, which I believe is a very accurate indicator of the overall market," Zhao said.

He said there were different kinds of investors joining the crypto market � from family offices that are more interested in wealth preservation to hedge funds that are trading very actively to make money to market makers and equity and crypto project investors.