Changpeng Zhao, the former CEO of Binance, has projected that only a small fraction of cryptocurrency participants will achieve long-term success. His remarks came during a conversation on X, where he responded to an analysis by the crypto influencer EmperorBTC.
EmperorBTC argued that most individuals in the crypto market are unlikely to succeed. He categorized 80% as “tourists” who enter based on news cycles and exit when sentiment shifts. He described another 10% as traders who rely on misleading influencers, while 5% pretend to be wealthy. That, he said, leaves only 5% who are serious about crypto.
CZ disputed that even this group of 5% is positioned for success. “In the remaining 5%: 4% actively trade or work on projects but won’t outperform Bitcoin,” he wrote.
He emphasized that simply holding Bitcoin already places an investor ahead of 99% of crypto market participants. “Holding BTC surpasses 99% of crypto participants and other asset types, by doing practically nothing,” he stated.
CZ’s perspective suggests that long-term Bitcoin holders outperform crypto traders and other asset classes. However, he noted that reaching the elite 1% requires a rare level of effort. “To move up in the final 1%, extraordinary effort is required,” he said.
His comments come as Bitcoin trades at $84,430, with resistance at $85,000. The market is experiencing record outflows, adding to uncertainty in the digital asset sector. The cryptocurrency’s derivatives market has sharply deleveraged, with over $10 billion in open interest erased within two months.
The reset follows a wave of liquidations triggered by political instability linked to U.S. President Donald Trump’s recent actions, leading analysts to reassess market conditions. Bitcoin’s open interest reached an all-time high of over $33 billion on January 17, according to CryptoQuant data.
By March 4, nearly $10 billion had been wiped out, pushing the 90-day futures open interest change to -14%—a level historically associated with market resets before price recoveries.
