No One Can Print BTC out of Thin Air, Says CZ after $300B Fiat Print
- Binance CEO praised the BTC’s feature of resisting inflationary pressures.
- Bitcoin surpassed $27,500 in the last 24 hours.
- A US Congressman said the government is weaponizing market chaos to kill crypto.
Yesterday, Changpeng Zhao, the CEO of Binance, took to Twitter to praise a core feature of the Bitcoin technology that makes it resists inflationary pressures, a feature traditional fiat currencies lack.
“No one can print Bitcoin out of thin air,” Zhao tweeted, adding, “mining is a feature.” This statement comes after multiple reports confirmed that the US government had printed $300 billion “out of thin air” as a bail-out following the collapse of three prominent banks in the country.
No one can print #bitcoin out of thin air.
— CZ
Mining is a feature.Binance (@cz_binance) March 17, 2023
According to data from the market tracking website, CoinMarketCap, Bitcoin (BTC) has surpassed $27,500 in the last 24 hours, one of its highest points in nine months. This increase comes after BTC fell below $19k in the week when the US banking sector slipped in crisis and numerous bank runs.
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