Cai Wensheng, a Chinese Angel Investor in an interview Wang Feng, a tech entrepreneur said he had reached his goal of holding 10,000 Bitcoins. Cai Wensheng is the founder Meitu a Selfie touch-up application which is super popular in China and has a net worth of around 1.5 Billion.
Sina Finance reported in an interview where Wensheng revealed his involvement in Cryptocurrency. In January 2018 he confessed that he owned very small quantities of Bitcoin, he decided to wait to accumulate his personal goal of 10,000 Bitcoins. In January Bitcoin went as low as $6,000 and acquired his desired goal of 10,000 Bitcoin in a period of 4 months. Also, this seems to be a bargain as Charlie Shrem tweeted that May would be the last month Bitcoin will be less than $10,000.
He has also invested in many other cryptocurrencies like Theta, Ontology (ONT), Dxchain (DXC), Charter (CAF), Cortex (CTXC), ArcBlock (ABT), YeeCall (YEE) and Zipper (ZIP). Some are losing money, while some have given him enormous returns.
Cai believes that cryptocurrencies are at their very initial stage of the dotcom boom. Investors who had invested in companies that survived the dotcom crash made unimaginable returns.
Cai Wensheng, also warns investors to research and invest into any blockchain company. Just because he has invested in any company does not mean the company is going to succeed and even investors make mistakes.
The recent market crash in March does not make a big deal for him and said it was a short-term setback. Bitcoin price was around $1,000 last year and went six times higher as compared to $6,000.
He also says ICOs are very important in the market and investing in an early stage company is become easy to an ordinary person. Ordinary people and investors both have the same starting point.
Investors and exchanges have not slowed down even after the Chinese government has blocked both cryptocurrencies and ICOs. Exchanges have moved out of China and cryptocurrencies trading is still thriving with OTC trades.