Binance CEO Changpeng “CZ” Zhao reveals 6 reasons he chose to invest $500 million on Twitter after Elon Musk’s acquisition.
Ever since Twitter’s new sink was in, I was asked about it in every interview. And I had many interviews last week. So, here is a summary.
Why did we do it? 6 reasons.
— CZ
Binance (@cz_binance) November 4, 2022
CZ’s main reason to invest in Twitter is his belief in free speech. “Free speech is a prerequisite for having the freedom to spend money. We are building it,” CZ said, highlighting the importance of Twitter in providing a common platform where people and important people can voice their opinions.
The second reason has to do with Binance’s support for entrepreneurs. In the words of CZ, “With Elon in the lead, we believe Twitter will continue to grow and become an impact platform for all.”
CZ stated that “huge untapped value” was the third reason for the investment. Because he believes social media platforms can also offer innovative business models without selling user data. With this potential behind it, CZ offers to help integrate Web3 for Twitter, which is also his fourth reason.
Fifth, it is personal to CZ as Twitter is essential for CZ to maintain open communication with the Crypto space including entrepreneurs, investors, journalists and the general public.
CZ also revealed that it has similar thoughts to Musk – in reason six – when it comes to Twitter changes that include eliminating bots, adding an edit button, paying for a blue tick for identity verification. and pay for commenting on posts
Binance CEO stresses Twitter as a long-term investment and is not disturbed by short-term stock price volatility and market conditions
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