A Chinese angel investor named Cai Wengsheng bought almost 10,000 bitcoins in the first month of 2018 after “realizing blockchain and bitcoin are the future.”
This is totally in contrast to what crypto investors did in the first quarter of 2018, after BTC took a massive fall. Bitcoin traders and investors starting selling of their cryptocurrency in the wake of regulations, tax rules and crashing market.
In a publication by local news outlet Sina, Wensheng said,
“When I determined that the blockchain and Bitcoin were the future, I set myself a goal of owning 10,000 Bitcoin.
At the time of the peak in December (2017), I personally thought that the price was a bit high and I did not buy it. Later, with the decline in prices towards the end of January, I continued to build positions, continued to buy. Now this small goal has basically been achieved.”
For Cai meanwhile, careful detachment of “investors” from “speculators” in BTC is key.
“I think the biggest difference between investment and speculation is that when you buy a stock or a digital currency and the price keeps falling, your mentality is more or less positive and you can make up short positions,”
Born in the 1970s, Cai made his name and first fortune by investing in domain names during the internet bubble and expanded his investment portfolio over the next decade as an angel investor.
Meitu, his current venture, went public in Hong Kong in December 2016 with a valuation of $5 billion at the time.
The popular photo retouching tool claims to have over 90 million monthly active users in China.
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