Chinese Investor Amassed 10,000 Bitcoins in 2018 Price Dip

Cai Wensheng, an angel investor in China and also chairman of picture sourcing program provider Meitu, he's achieved his objective of accruing 10,000 bitcoins.

Within a open bunch Q&A semester with technology entrepreneur Wang Feng on We chat on Thursday, Cai revealed that he had been carrying one Bitcoin at January of the season he also proceeded to maximize his portfolio within the first quarter of 2018 cancel the volatility economy's lower prices.

Right after December's record-high around $20,000, the purchase price tag on Bitcoin started falling in January. Cai explained his justification for its investment throughout the Q&A, stating:"I just had only digit unit of Bitcoin, only for pleasure at January. Nevertheless, as soon as I have sure that Bitcoin and blockchain may be your near future, I place the objective of holding 10,000 Bitcoin.

Therefore I began on end of January to assemble my own [holdings] after a cost reduction. The longer it fell, the longer I bought in the assignment is ostensibly intact. Produced from the 1970s, Cai left his title and original fortune by purchasing domain names throughout the online bubble and enlarged his investment portfolio during the subsequent decade being an angel investor.

His current partnership, Meitu, a favorite photo tagging tool in China which claims to own over 90 million yearly users that are active, went public at Hong Kong at December 20-16 with a rating of $5 billion during that moment.Cai's revelation leaves him among those very few big name shareholders in China to own publicly disclosed their Bitcoin holdings.

In addition, it comes at the same period when Meitu is intending to use blockchain technology to decentralize storage of users' data, as per some white newspaper released in January.