- Binance’s CZ reflected on joining crypto late after witnessing early whales move coins they had purchased at just $0.1 in 2011.
- Bitcoin traded near $1 in 2011, giving early adopters a strong position as they moved large holdings during the market’s infancy.
- CZ’s remark highlights the early advantage of timing in crypto and the dominant role early whales continue to play today.
Binance founder Changpeng Zhao, also known as CZ, recently reflected on his entry into the crypto market. He admitted he joined the space after witnessing early investors move crypto bought at extremely low prices.
CZ Shares Regret Over Late Entry into Crypto
In a statement shared by Watcher.Guru, CZ said he “got into crypto too late after seeing the 2011 whales casually moving crypto they got for $0.1.” His observation sheds light on the advantage held by early adopters who accumulated digital assets before the wider public caught on.
During 2011, Bitcoin’s price hovered around $1. Many of the early participants had acquired BTC for as little as $0.1. Over time, these users, now commonly referred to as “whales,” amassed large amounts of crypto at a fraction of today’s prices. Their accumulated holdings often shaped market movements and influenced liquidity.
CZ’s remark reflects on a time when the market was still emerging. While his entrance came later, it eventually led to the founding of Binance, now one of the world’s largest cryptocurrency exchanges.
The Evolution of Market Participation
The early phase of cryptocurrency adoption was defined by minimal competition and limited awareness. Those who engaged with the technology during that period now control a substantial portion of digital wealth. CZ’s comments illustrate how early activity in crypto can offer a considerable advantage as the market grows.
Despite feeling late to the game, CZ built an exchange that enabled millions to access cryptocurrency markets. His success came during a time of rapid industry expansion, driven by new technology, investor demand, and institutional interest. The market’s growth has opened opportunities far beyond the early whale days.
CZ’s statement provides a clear perspective on the timeline of digital asset accumulation. It also points to the changing dynamics between early adopters and new entrants. As the industry continues to expand, the role of historical entry points remains a topic of reflection for many.
