Bitcoin , the oldest and most expensive cryptocurrency in the world, created a historic high exceeding $111,500 on Thursday, May 22. Binance founder Changpeng Zhao (CZ) grabbed the opportunity to drop some crypto knowledge, marking the new milestone.
The aim of investing, as per Zhao's post on X, should focus on the long-term picture rather than minor setbacks.
"Remember to look at a yearly chart instead of a 1 minute chart once in a while," the 48-year-old crypto mogul tweeted to his 10 million followers on Thursday.
Zhao is referring to the recent rollercoaster timeline of Bitcoin's price fluctuations that triggered a market panic and maintained strain over the crypto market these past months.
Owing to President Donald Trump's tariff wars with other nations like China, UK, and India, the price of BTC sunk to its yearly low in April. At the time, the asset was trading at the price mark of $76,000.
In his post Zhao said that he feels "sorry for those who sold at $77k".
The market winds have just started to turn favourable for the crypto charts. In recent weeks, President Trump re-negotiated trade deals with China and India among other nations. This ended up easing the long-prevailing macro-economic tensions and relieved the investor communities.
In addition, crypto-focussed regulatory work has also picked pace around the world, that is seemingly adding more confidence to the crypto investors.
Just this week for instance, Hong Kong passed its stablecoin bill that is expected to go into effect before the year end. Meanwhile, US' stablecoin bill called the GENIUS Act , has also advanced to the House of Senate for a final approval.
All of these factors can be crucial in driving Bitcoin's surge to a historic new high.
Incidentally, the timing of the event seems like a full circle moment - as May 22 is famously celebrated as the " Pizza Day " among the crypto community.
In 2010, a software programmer from Florida named Laszlo Hanyecz, used 10,000 Bitcoin tokens to purchase a $48 pizza from Papa John's. This made that pizza the first real world commodity purchased using Bitcoin. As per today's BTC price, the value of 10,000 BTC tokens stands at $1.11 billion.
At time of writing bitcoin is trading at $111,204.29, as per kraken.
Binance co-founder feels 'sorry' for paper hands first appeared on TheStreet on May 22, 2025