Binance CEO Changpeng ‘CZ’ Zhao took to Twitter on Jan. 14 to make popular CNBC host Jim Cramer swallow his negative sentiments on crypto following bitcoin’s (BTC) climb back to the $21,000 price region. The global crypto market cap aims for the $1 trillion mark again at press time.
CZ trolls Jim Cramer
While crypto proponents are always of the opinion that bear markets are the best times to join the web3 movement and “buidl,” the fact remains that crypto winters are one of the most difficult times to be a hodler, especially for large bags.
This one-of-a-kind bear market has already seen countless industry heavy-hitters such as Three Arrow Capital, Celsius, and much more kick the bucket, not to mention the high-profile scandals like Sam Bankman-Fried’s FTX collapse. To fuel more FUD, CNBC’s Mad Money host, Jim Cramer, advised his nearly 2 million Twitter followers to get out of crypto on Jan. 9.
However, just days after making such a bold call, king bitcoin (BTC) and other cryptocurrencies are experiencing a sharp turnaround in fortunes. CZ has taken the opportunity to troll the millionaire crypto skeptic.
The price of BTC has witnessed an over 22% increase in the past seven days, triggering massive price gains across the board.
At the time of writing, ether (ETH) is up by over 19%, trading at around $1,568, Binance’s BNB altcoin is exchanging hands for $303 (up by over 9% in the past seven days), while SOL token’s current price of $24.40 represents a more than 49% increase in the same period.
Whether the global crypto markets will sustain their newfound momentum and bring back the bulls this year remains to be seen.