Changpeng Zhao posted a link to the Bitcoin is Dead website on social media X, which has published over 380 articles over the past few years claiming that Bitcoin is dead. The former Binance CEO wanted to show how much negativity the first cryptocurrency had to endure during its existence. However, Bitcoin is growing and its position as the most popular crypto asset is only getting stronger, Zhao said.

Bitcoin recently hit a new all-time high, surpassing $89,000, with trading volume reaching $135 billion. Bitcoin's market capitalization now stands at $1.7 trillion. This bull run has further increased the interest of major investors in the first cryptocurrency.

Zhao noted that Bitcoin's crash was "predicted" by many crypto skeptics, who said it could crash to zero during the next decline. One of those skeptics was Berkshire Hathaway (NYSE: BRKb ) Chairman Charles Munger, who called investing in digital assets stupid and pointless. Bitcoin experienced declines in 2011, 2014, 2018, and 2020, but its price recovered after each decline, and by 2021 it had exceeded $60,000.

Despite the current Bitcoin bull run, Zhao advised investors to be cautious and not to get greedy. He warned that the cryptocurrency market is volatile and subject to frequent fluctuations. Zhao added that he would not be surprised if Bitcoin’s rapid growth was followed by a period of decline. Therefore, the former Binance CEO warned traders against impulsive decisions.

Zhao recently predicted that the crypto market will grow throughout the next year, citing the popularity of cryptocurrencies among politicians.

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MicroStrategy has once again confirmed its status as the largest corporate holder of bitcoin, purchasing another 27,200 BTC worth about $2.03 billion. The average price per coin was $74,463.

The acquisition was announced by the company's founder and chairman, Michael Saylor.

The largest software maker currently owns 279,420 bitcoins , which are valued at almost $23 billion.

MicroStrategy said the company bought bitcoin using funds raised from issuing and selling shares. As of November 10, the firm had sold about 7.8 billion worth of securities worth $2 billion. According to the report, bitcoin's yield, which is considered the main indicator of the effectiveness of a cryptocurrency investment strategy, was 7.3% from October 1 to November 10. Since the beginning of the year, the yield has reached 26.4%.

The news of the latest Bitcoin acquisition followed a rise in the company's stock price after Donald Trump won the US presidential election on November 5. On November 8, MicroStrategy shares rose by 19.9%.

Data from Bitcoin Treasuries shows that Michael Saylor’s company has bought Bitcoin 42 times at an average price of $39,292. MicroStrategy remains the largest corporate holder of BTC, followed by miners Marathon Digital and Riot. Both companies hold about $2.1 billion and $840 million worth of the flagship cryptocurrency, respectively.

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Bitcoin climbed to a fresh record high earlier Monday , continuing a strong run of gains since Donald Trump's election as U.S. president raised hopes for friendlier cryptocurrency regulations.

The Bitcoin rate immediately grew by almost 3% and reached a record high of $81,792.

The world's largest digital currency, as well as cryptocurrency markets in general, have been on the rise since Trump's election victory last week. The president-elect promised to make the United States the "crypto capital" of the world.

Bitcoin has gained more than 16% in the last week and is up 91% in 2024.

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