CZ and Chamath: Contrasting Views on Crypto Market Liquidity
Binance founder Changpeng Zhao (CZ) says that despite the current crypto bear market, significant liquidity remains available for investors. He argues that rather than a lack of capital, investors are simply waiting for the right opportunities to emerge.
Market data supports CZ's view, with Bitcoin trading near $63,037 - down about 45% over the past year and roughly half its all-time high reached on October 6.
Meanwhile, venture capitalist Chamath Palihapitiya has shifted his investment focus from AI chip startups to infrastructure supporting the AI industry. He's now investing in what he calls 'LPS' - Land, Power, and Shell assets, such as acquiring land and securing power connections for potential data centers.
Palihapitiya believes that these assets offer faster and more reliable cash returns due to the increasing scarcity of suitable sites with access to electricity. Industry data appears to support his view, with at least 75 U.S. data center projects worth around $130 billion being blocked or delayed in early 2026.