Changpeng Zhao remembers in the Tweet of the Day the usefulness of Bitcoin to make big transactions between companies in a cheap and safe way.
In the last few months, the most important trend within the crypto market has been the entry of large companies into the crypto community. Thus, today several top-level companies use Bitcoin as a means to protect the value of their capital. However, for Binance’s CEO and founder, Changpeng Zhao, Bitcoin is perfect for companies, not only as a means to save money, but also to make transactions, as he pointed out in the Tweet of the Day:
#Bitcoin is hoarded by many company treasuries now, mostly to protect against inflation.
They will soon find out #btc is also ideal for corporate transactions. Large, not super time sensitive tx that are easy to do and super secure. And they already both hold #btc.
– CZ Binance (@cz_binance) January 16, 2021
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For a long time, companies have been careful about entering the crypto market. Neither for the management of these companies, nor for their shareholders, crypto currencies like Bitcoin seemed like solid assets in which to trust their capital. Especially due to the enormous volatility that constantly affects the price of virtual currencies.
This began to change in the year 2020, when several companies and institutional investors were encouraged to invest millions of dollars in Bitcoin. The leading example of this is MicroStrategy, the business software company that invested tens of millions of dollars in Bitcoin, multiplying its capital in just a few months. This has prompted more companies to follow this path.
However, for Changpeng Zhao, the use of Bitcoin as a store of value is not the only thing that cryptomoney can have. On the contrary, it can also be used to make large money transactions quickly, safely and cheaply. Because, unlike small transactions that must be done immediately, a transfer of several million dollars can be delayed for thirty minutes, in exchange for a sharp reduction in the commissions paid:
„Now #Bitcoin is hoarded in many corporate treasuries, mostly to protect against inflation. You will soon discover that #Bitcoin is also ideal for corporate transactions. Big, not super time-sensitive, easy to do and super secure. And both companies already have #BTC.
In this way, Changpeng Zhao points out one of the main uses for Bitcoin, which is usually ignored by analysts and companies. It could represent a true revolution in international finance, demonstrating that Bitcoin is perfect for companies.