When asked if countries should add cryptocurrencies like Bitcoin to their reserves in the future, Binance CEO Changpeng Zhao said yes.
Zhao responded that he expects countries that do not yet have their own currencies to do so. Zhao speaks at a Binance event in Athens:
“I think most governments now understand that adoption will happen regardless. It’s better to regulate the industry instead of trying to fight against it.”
The FTX bankruptcy has left an estimated 1 million creditors facing billions of dollars in damages. Nonetheless, Binance CEO predicted that the sector would revive.
“I think now we see the industry is healthier… just because FTX happened it does not mean that every other business is bad,” he said.
When asked if he anticipated governments to add cryptocurrencies like Bitcoin to their reserves in the future, Zhao said he expected them to start, particularly those that did not have their own currency. He said:
“The smaller countries will start first, I think.”
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