Changpeng Zhao: Gold and silver's volatility shows crypto is still early

Binance founder Changpeng Zhao commented on the recent sharp decline in gold and silver prices from their all-time highs, noting that such volatility can occur even with physical assets that have thousands of years of history. He explained that Bitcoin is a technology that is only 17 years old and has faced a suppressed environment for most of its existence, while other cryptocurrencies are even younger. Zhao concluded that the industry is still in its early stages. His remarks followed a market downturn where gold fell by approximately 15% and silver by as much as 38%, wiping out an estimated $15 trillion in market capitalization.