💡 CZ Sold $900K Apartment to Buy Bitcoin Around $400
Changpeng Zhao (@CZ revealed he sold his Shanghai apartment for $900K in 2014 to invest in Bitcoin at roughly $400/coin, despite lacking stable employment.
Conviction: Six months studying Bitcoin after first encountering it in 2013.
Strategy: Averaged purchases around $600, increasing exposure as BTC dipped further.
Motivation: Believed Bitcoin had asymmetric upside potential compared to limited downside, similar to early internet adoption.
Career Path: Soon after, Zhao joined Blockchain.info and later founded Binance in 2017.
This move underscores the high-risk, high-conviction decisions that defined many early Bitcoin pioneers.
