No one can print Bitcoin out of thin air, Binance CEO said after US money printing.


Yesterday, Changpeng Zhaothe CEO of Binance, took to Twitter to praise a core feature of Bitcoin technology that makes it resistant to inflationary pressures, a feature traditional fiat currencies lack.

“No one can print Bitcoin out of thin air,” Zhao tweeted, adding that “mining is a feature.” This statement comes after several reports confirmed that the US government had printed $300 billion “out of thin air” as bailout after the collapse of three major banks in the country.

According to data from the market monitoring website, CoinMarketCap, Bitcoin (BTC) has surpassed $27,500 in the last 24 hours, one of its highest points in nine months. This surge comes after BTC fell below $19,000 in the week that the US banking sector. entered into crisis and suffered numerous bank runs.

Bitcoin’s seven-day cumulative growth exceeds 36%, with a market share exceeding $529 billion. Other top coins such as Ethereum (ETH), Binance Coin (BNB) and Cardano (ADA) all have positive double-digit gains from the previous week.

Many experts have been theorizing that the US government is deliberately going after the crypto industry following the closure of the pro-crypto financial institution Silvergate Bank.

On Thursday, US Congressman Tom Emmer said that the government is “using the chaos of the market as a weapon to kill cryptocurrency.” In an interview with Fox Business News, Emmer cited two sources as reporting that any company that buys Silvergate Bank would have to sign an undertaking that prohibits it from facilitating cryptocurrency transactions.

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