Richard Teng’s Bitcoin Insights

Richard Teng, the new chief executive of Binance, recently shared a poetic tweet about Bitcoin, highlighting its distinct and sustainable qualities.

It followed a significant announcement regarding Bitcoin that surfaced at the highest levels on X.

Teng likens Bitcoin to treasure

Teng described Bitcoin as “like digital gold, a treasure to behold,” emphasizing that it’s not financial advice. Responding to a positive comment from a follower on X, he noted that Bitcoin is also “scarce and a hedge against inflation.”

> Bitcoin’s like digital gold, a treasure to behold.
>
> ◎ NFA
> — Richard Teng (@_RichardTeng) March 7, 2025

His statement coincided with U.S. President Donald Trump signing an executive order for a Strategic Bitcoin Reserve (SBR), leading to a 4% increase in Bitcoin’s price, rising from the $85,550 zone to $89,000.

Prior to this recovery, Bitcoin had experienced a nearly 8% drop from $92,780 since Thursday.

Bitcoin to $120,000 in March: Max Keiser

Several Bitcoin influencers, including Binance’s co-founder and former CEO, reacted positively. CZ tweeted, “One more holder, the US,” in light of the SBR creation, which plans for the U.S. government to acquire 1,000,000 Bitcoins over four years, purchasing 250,000 annually during Trump’s presidency.

Following the executive order news, Bitcoin advisor Max Keiser predicted a rapid rise for Bitcoin, stating it would surpass $100,000 soon and reach $120,000 within the month.

> I predict we cross $100,000 in the next few hours and cross $120,000 this month.
> — Max Keiser (@maxkeiser) March 7, 2025

Bitcoin symbol explained by Grok AI

The official Binance account also shared a succinct Bitcoin tweet featuring the symbol ₿, along with a note from the Grok AI bot detailing its meaning. The symbol represents Bitcoin, introduced in Unicode 10.0.0 on June 20, 2017, marking its recognition as a currency, alongside symbols like $ and €.

> The ₿ symbol represents Bitcoin, a decentralized cryptocurrency. It was introduced in Unicode 10.0.0 on June 20, 2017, alongside symbols like $ and €, signifying Bitcoin’s status as a recognized currency.
> — Grok (@grok) March 7, 2025