Bitcoin Less Volatile Than Tesla and Apple for the Past 2 Years, Claims Binance CEO

“If you look at the data, bitcoin’s more stable than Tesla, bitcoin’s more stable than Apple,” Changpeng Zhao argued.

Bitcoin, according to Changpeng Zhao, Chief Executive Officer of Binance, is less volatile than many stocks of tech titans such as Tesla and Apple. He also stated that the exchange will "have good news to share" about its legal battle with international regulators.

'Many Tech Stocks are More Volatile Than BTC,' says an analyst.

In a recent interview with the Financial Times, Changpeng Zhao stated that the price of the major cryptocurrency has been "more stable" over the previous two years than the price of shares in tech companies such as Elon Musk's Tesla and even Apple:

“If you look at the last two years, if you look at the tech stock price versus the bitcoin price, many of the tech stocks are more volatile than bitcoin. If you look at the data, bitcoin’s more stable than Tesla, bitcoin’s more stable than Apple.”

It's worth noting that the stock price of Tesla has fluctuated significantly over the last few years. A single share was worth roughly $90 at the commencement of the surge in early 2020. TSLA reached an all-time high of $1243 in November 2021. However, it lost considerable momentum over the next few months, falling to around $800 at one point. It is currently trading at approximately $930.

Apple's stock, on the other hand, had relatively low volatility, which could be explained by the fact that the company was founded nearly 50 years ago. While many companies struggled to cope at the start of the COVID-19 pandemic, AAPL's stock was consistently rising. The stock hit an all-time high of over $183 in January of this year. Nonetheless, it is currently trading at around $160, down 13% from its peak.

Many would argue, though, that bitcoin's price is significantly more volatile, with double-digit swings in either direction.

It's also a new asset, and new assets are prone to high price volatility in their early stages. Google and Amazon's stock prices were likewise extremely volatile at first, but they are now among the largest and most stable firms in terms of stock price.

Regulators and Binance

Several regulatory bodies have slammed the world's largest cryptocurrency exchange in recent months. The FCA of the United Kingdom, the EU, and the FSCA of South Africa are all examples.

CZ stated in November of last year that Binance would modify its structure in order to resolve its regulatory concerns. He promised to develop the company into a regulated financial institution with a single headquarters.

The executive expressed optimism about future collaboration between Binance and global watchdogs during his most recent appearance. He emphasized that the exchange's American arm is licensed to operate in 45 US states, and that "good news" about settlement in additional nations is on the way:

“We have 45 state licenses in the US. In other places, including the G7 countries, we’re making very good progress and I think we’ll have good news to share in the… coming weeks.”