Can BTC Help Countries Escape Budget Deficits? Binance CEO Shocks with New Statement

Governments around the world are realizing a major opportunity that has been missed as the bullish surge of bitcoin shows that early adoption of cryptocurrency could cut down the whales and build national wealth, according to the CEO of Binance. The Government Can Cut Down Deficit Using Bitcoin, According to the CEO of Binance Binance CEO Richard Teng has emphasized the long-term value of bitcoin in recent posts on social media platform X, citing its bullish price increase and the financial opportunities that the government has missed out on. His comments came after bitcoin reached a new all-time high, refocusing on its global financial role. On May 22, Teng stated: Looking at the performance of bitcoin in recent years, countries can address budget deficits through strategic cryptocurrency reserves. Even those who have sold their stakes have seen a great opportunity missed when looking back. His comments emphasize the potential of bitcoin as a sovereign asset, suggesting that if governments accumulate reserves earlier, they could reduce financial deficits. Teng's assertion further reinforces the argument that bitcoin can not only serve as a risk hedge or speculative asset but also as a core component of national financial strategies. A day earlier, Teng reflected on the changing perception of the value and attainability of bitcoin as BTC reached its all-time high, he posted on X: What seemed impossible in cryptocurrency just a few years ago has now become the norm. This pattern repeats: "impossible" yesterday becomes the expected today. I often check the 5-year BTC chart and recall conversations where smart minds claimed that certain price levels were unattainable. These remarks frame the rapid development of sentiment in the cryptocurrency space, where price milestones once considered out of reach have now been surpassed and are anticipated. Teng's comments come at a time when institutional adoption is rising and the conversation around cryptocurrency reserves is becoming relevant again. Both Binance and former CEO Changpeng Zhao (CZ) are advising governments on cryptocurrency regulations and building national digital asset reserves. While Binance provides regulatory guidance and promotes adoption, CZ independently supports countries such as Pakistan and Kyrgyzstan, proposing bitcoin and BNB as reserves and providing blockchain expertise. After bitcoin's record rally on May 21, CZ wrote on X: "Feel sorry for those who sold at $77,000. Remember to look at the annual chart instead of the occasional 1-minute chart."