Binance Binance Has Largest BTC Reserve

[Yugocean]

Now, it appears from the Bitcoin Reserves data that Binance holds the largest BTC reserves.

Following the FTX collapse, people withdrew billions of dollars' worth of crypto from centralised exchanges and other crypto platforms, causing many other platforms to suffer economic losses, adding to the market value loss of crypto and prompting people to sell their Bitcoins.

Many people are selling Bitcoin at a loss to avoid more losses due to the rapid price drop. Everyone has to turn to an exchange to sell, and Binance is the one most people are relying on at the moment.

Binance CEO CZ has attracted the public's attention by holding events in various countries, hosting webinars, communicating multiple times on social media, and increasing credibility on a daily basis, whereas other exchanges are less active and rarely update on social media, limiting their contact with the public.

Because exchanges like Bitfinex, Gemini, and Kraken are also updating to regain people's trust, they have enough bitcoin stock.​

 

[roseberry]

There were a total of 6.12 million bitcoins on hand as of November 22, 2022. The exchange claims it has 582,485 BTC in its reserves, while its users have a net balance of 575,742 BTC — giving Binance a reserve ratio of 101%.

 

[Yugocean]

Bitcoin is the future, so anyone with enough reserves will only benefit. Soon, Bitcoin will become a reserve currency, just like gold did once. Nowadays, governments don't care about reserves and print money out of thin air, so it is becoming worthless. Such money will become like rough paper in front of Bitcoin, just as Venezuelan and Zimbabwean currencies will become in front of international currencies.
However, it will still take time, but when the time comes, Binance will be a great business body, after Satoshi Nakamoto, of course, although there is only a slight possibility of Satoshi returning as the economic king.