Bitcoin held up better than expected after Binance hack, Strive CEO says
Strive CEO Matt Cole says the Binance hack has not changed his long-term case for Bitcoin, but cautions it is too early to call a market bottom.
Strive CEO Matt Cole says the Binance hack has not changed his long-term case for Bitcoin, but cautions it is too early to call a market bottom.
Bitcoin has held up better than expected following the $6.3 billion Binance hack, according to Strive CEO Matt Cole, who said the breach does not undermine the cryptocurrency’s long-term investment thesis.
Speaking on Cointelegraph’s Chain Reaction on Friday, Cole said the breach had not changed his long-term investment case for Bitcoin. He compared the attack on Binance’s wallets to a bank robbery rather than a failure of Bitcoin’s network.
Cole described the market as being in an “early spring” recovery phase that could last another six to nine months, with prices gradually rising rather than surging to new highs.