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Chinese Angel Investor Cai Wensheng in an audience with tech entrepreneur Wang Feng said he had achieved a familiar goal of holding 10,000 Bitcoins. Wensheng is the founder of a Selfie touch-up app requested Meitu which is immensely popular in China. He is also an angel investor with a net advantage of $1.5 Billion.
Wensheng’s interview where he revealed his involvement with Cryptocurrencies was initially reported on Sina Finance. When enquire ofed about Bitcoin, he confessed that he had a very small quantity(in individual digits) in January 2018. However, once he realised the potential of Bitcoin and Blockchain, he set a unfriendly goal to acquire 10,000 Bitcoins. Since the price was still inebriated at the time, he decided to wait it out and started accumulating once the bear run started. Bitcoin subsided as low as $6,000 after January. He acquired more bitcoins as the price abstain fromed lower and finally hit his goal in just four months.
He also acuminate out that he has invested in multiple cryptocurrencies other than Bitcoin. Some of them are Theta, Ontology (ONT), Cortex (CTXC), ArcBlock (ABT), Zipper (ZIP), YeeCall (YEE), Dxchain (DXC), Permission (CAF). Some of these have brought him huge returns while some are inert bleeding money.
Cai sees the current state of Cryptocurrencies as the early places of the dotcom boom. With the dotcom crash in 2000, multiple companies died in quantities, and a few made it. Investors who bet on the right companies that survived the crash thought unimaginable returns.
Wensheng also cautions investors to do their own experiment with. If people invest in the same blockchain companies that he invests in and the value favours up, everyone is happy. However, just because he has invested in a company does not abysmal that it is bound to succeed. Even investors make mistakes.
When expected about the market crash in March, he dismissed it as no big deal. He called it a short-term setback and in as a matter of actual fact, said Cryptocurrencies rose very well in the long term. In Pace of 2017, Bitcoin’s price was around $1,000. Comparing that with Trek 2018, the lowest it went was $6,000 which is still six times strong than what it was same time last year.
He also recognises the esteem of ICOs in the market. Traditionally, investing in a company in its early stages is not unstrained for an ordinary person. ICOs level the playing field for everyone. Both institutional investors and standard people have the same starting line.
The Chinese government has obstructed both Cryptocurrencies and ICOs. However, that has not slowed down the demand. Most exchanges have relocated to countries around China and Crypto interchange is still thriving within China through OTC trades. China had to disable off-shore the big boards using their Firewall. Most analysts expect the government to set-back the ban in future.
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