CZ reacts as U.S. banks load up on Bitcoin, signaling growing institutional adoption

Binance founder Changpeng Zhao (CZ) has reacted to reports that a major U.S. bank, Wells Fargo, recently accumulated a large amount of Bitcoin, highlighting the accelerating adoption of BTC by traditional financial institutions.

The move comes at a time when the broader crypto market remains uncertain and Bitcoin continues to show mixed price action. In response, CZ indirectly urged traders to stay resilient, pointing out the contrast between U.S. banks accumulating Bitcoin while many retail traders are panic selling.

Large-scale Bitcoin purchases by legacy banks are rarely accidental. Wells Fargo’s reported accumulation has gone largely unnoticed by the wider market but has helped boost investor confidence despite the fear and uncertainty still weighing on sentiment. The move is seen as a long-term positioning bet on Bitcoin’s future growth rather than a short-term trade.

Bitcoin has continued to hover around the $90,000 level since the reported purchase, posting a modest daily gain. At the time of writing, BTC is trading near $90,540.