Valuetainment "$900K Turned Into $121M"- The Bitcoin Bet That Turned CZ Into A Crypto Legend
May 14, 2026
CZ, serial fintech entrepreneur and Binance founder who once sold his Shanghai apartment to buy Bitcoin. He recounts discovering Bitcoin in 2013 and why it felt monumental. He tells the story of selling $900K in real estate to buy BTC at ~$600. He recalls building exchanges, early product pivots, and raising funds via an ICO.
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Sold Apartment To Buy Bitcoin
- CZ sold his Shanghai apartment and used the proceeds to buy Bitcoin because he believed it was the next big technology.
- He averaged ~$600 per BTC after buying in installments and later estimated that $900K became roughly $100–121M on peak valuation.
Hands-On Bitcoin Revealed Its Core Value
- Experiencing a Bitcoin transaction and controlling your own wallet revealed the core value: borderless, fee-free, direct transfers without banks.
- That hands-on realization shifted CZ's view from theory to unavoidable future adoption.
Assess Risk Based On Personal Safety Nets
- Evaluate risk by your personal circumstances, not by the action's appearance; CZ felt his risk tolerance was high because he could get a job if Bitcoin failed.
- Rely on transferable skills as a safety net when taking big bets in new industries.