News Binance team are hoarding $1.2 billion of Binance Coin...

Binance team are hoarding $1.2 billion of Binance Coin (BNB)

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The Binance team are dedicated to the cause.

Several Binance employees haven chosen to take their salary and other bonuses in BNB over fiat. But instead of regularly taking out cash, many are holding off, under the belief that the coin’s stellar growth will continue long into the future. In fact, this stockpiling of BNB has grown to a staggering amount.

Changpeng Zhao tweeted today that the grand total being held by Binance employees is 32 million BNB ($1.2 billion). Employees, we’re told, are able to spend them as they like but haven’t and instead, are in favor of HODLing for the long term. Zhao stressed that all the coins are unlocked, meaning the employees can take them any time they wish, but are choosing to keep them safe in the Binance cold storage.

The disclosures were revealed when the exchange split up its cold storage of BNB into four wallets. CZ announced the movements ahead of time to stop speculation about what the coins were being moved for.

But are the employees making a wise decision?

Well, according to Messari, the yearly return on investment (ROI) for Binance Coin (BNB) over the last 12 months was 154 percent. In the last six months however, the ROI has ballooned to 560 percent. Part of the reason it has been trending upwards in recent months–and wasn’t affected by the bitcoin bear market of 2018–was down to Binance’s strategy of frequently ‘burning’ BNB to constrict supply.

Binance employees are sitting pretty comfy right now. But, as any savvy investor knows, past performance does not equate to a golden future.



Source

Binance team are hoarding $1.2 billion of Binance Coin (BNB)
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