Binance founder Zhao Changpeng said in an interview that his four-part investment approach is to avoid stocks, property speculation, short-term cryptocurrency trading and holding too much cash. He said property transactions take too long for their returns, while he does not trade stocks or short-term crypto positions and instead holds crypto for the long term, selling part of his holdings when needed. Zhao said fiat currency (government-issued money) continuously loses value, making cash the least attractive investment. He sold his home in 2013 and invested all the proceeds in Bitcoin, which subsequently fell by two-thirds and moved sideways for a year and a half. He founded Binance in 2017, and the exchange became the world’s largest cryptocurrency exchange five months later. Zhao was sentenced to four months in prison in 2023 for violating the U.S. Bank Secrecy Act, received a pardon from Trump last year, and is now worth about $114.6 billion. He said luck contributed to his success, but that the key was repeatedly making sound decisions and correcting mistakes quickly.