Governments around the world are awakening to massive opportunities, according to Bitcoin’s explosive rally.
The government could have used Bitcoin to reduce the deficit, says Binance CEO
Binance CEO Richard Teng highlighted the long-term value of Bitcoin in a recent post on Social Platform X. It cites the rise in prices and financial opportunities the government has missed. His remarks came to a new all-time high following Bitcoin climb, focusing on its global financial role. On May 22nd, Teng said:
Looking at Bitcoin’s performance in recent years, countries may have managed to cope with budget deficits through strategic crypto reserves. Even those who sold Holdings have seen that hindsight have missed out on big opportunities.
His remarks highlight the potential of Bitcoin as a sovereign asset, suggesting that if the government had accumulated reserves earlier, it could have reduced fiscal shortages. Teng’s argument adds weight to the argument that Bitcoin can act not only as a hedge or speculative asset, but also as a core component of national financial strategy.
A day ago, Teng posted to X, reflecting the changing perception of Bitcoin’s value and achievability when BTC reached an all-time high.
What was thought to be impossible in Crypto a few years ago is now normalized. This pattern is what is expected of yesterday, “impossible” today. I often check BTC charts for five years and remember conversations where a gorgeous mind claimed that certain price levels were not reachable.
These statements constituted a rapid evolution of emotions in the crypto space. There, price milestones that were once considered out of reach are now rising and expected. Teng’s commentary comes as system adoptions are on the rise and conversations about Crypto reserves gain new relevance.
Binance and former CEO Changpeng Zhao (CZ) are advising the government on cryptocurrency regulations and building national digital asset reserves. Binance provides regulatory guidance and encourages adoption, while CZ supports countries such as Pakistan and Kyrgyzstan independently, proposes Bitcoin and BNB for reserves, and provides blockchain expertise. Following the Bitcoin record-breaking rally on May 21, CZ wrote to X:
