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Bitcoin Remains Less Volatile Than Tesla And Apple: Binance CEO

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Stefan

Bitcoin remains less volatile than Tesla and Apple stocks according to the Binance CEO Changpeng Zhao, as we can see more today In our latest Bitcoin news today.

If you take a look at the data, Bitcoin remains less volatile than Tesla and apple and Zhao also said that the exchange will have good news to share on the confrontation with global regulators. In a recent interview, Changpeng Zhao expressed his opinion that during the past two years, the price of BTC was more stable than the one of the shares of tech giants like Tesla and Apple:

“If you look at the last two years, if you look at the tech stock price versus the bitcoin price, many of the tech stocks are more volatile than bitcoin. If you look at the data, bitcoin’s more stable than Tesla, bitcoin’s more stable than Apple.”

It is worth noting that Tesla’s stock price recorded major fluctuations over the past few years and when it started to rally at the start of 2020, a single share was worth $90. in November 2021, TSLA hit a new high of $1243 however in the next few months, it lost some ground and dropped to less than $800 while now it trades around $930. Apple’s share volatility was not that considerable and that can be explained by the fact that the company settled on the market about 50 years ago. Most companies were trying to cope at the start of the COVID pandemic and the AAPL shares were heading north. In January this year, the company reached an ATH of $183 and it Is now 13% below the peak and trades at $160.

BTCUSD. Source TradingView

With that said, most will argue that Bitcoin’s price is more volatile as frequently records double-digit movements in either direction. It is also a new asset and those often experience high price fluctuations in the earlier days Amazon and Google also saw huge volatility at the start but now stand among the biggest corporations in terms of stock price. Binance as the world’s biggest platform recieved some regulatory backlashes from a few watchdogs over the past few months and the UK FCA and the EU are some of the main examples.

Changpeng Zhao noted that Binance will change the structure to fix the issue with regulators and promised to turn the organization into a licensed financial institution that has centralized headquarters. In the most recent appearance, the executive said he was quite optimistic about the future collaboration between the global watchdogs and binance. He reminded us that the American arm of the exchange is licensed to operate in 45 of the US States while the good news about settlement in other countries is upcoming:

“We have 45 state licenses in the US. In other places, including the G7 countries, we’re making very good progress and I think we’ll have good news to share in the… coming weeks.”

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