When it comes to holding Bitcoin, some people are more ambitious than others. Take Chinese Angel Investor Cai Wensheng, for example, who, in an interview with tech entrepreneur Wang Feng revealed that he managed to reach his own goal of owning 10,000 coins.
According to CCN, Wensheng is well known in China, being the founder of selfie editing app Meitu, very popular in the Asian country, but also an angel investor with a net worth of over $1.5 Billion.
It started just a few months ago
During the interview, the businessman revealed that back in January 2018 he had just a few Bitcoin, in a very small quantity. However, after realising the full potential of the coin, as well as blockchain, he imposed a personal goal, of acquiring 10,000 Bitcoins.
Obviously, the price was very high at that time, so he decided to wait for a while and started buying once it started decreasing. And we all know what happened with Bitcoin’s price, as well as other cryptocurrencies, back in January.
One token went as low as $6,000 by February, so Cai Wensheng got more Bitcoins as the price went lower, managing to fulfill his dream in just four months.
As a side note, he invested in multiple other cryptocurrencies after this, some of them bringing him huge returns, while others remain failed attempts.
Comparing cryptocurrency to the dotcom boom
The investor thinks that this entire craze surrounding cryptocurrencies can be compared to the first stages of the dotcom boom, from the 2000s. After the dotcom eventually crashed though, a lot of companies were closed, while just a few of them made it. Investors who trusted the right companies made some huge returns.
Finally, Wensheng warns other potential investors about the risks of not doing enough research. Just because he has invested in a company, it doesn’t mean that it will automatically succeed. Even people like him can make mistakes. As for the market crash in March, he doesn’t think it’s a big deal, claiming that it was just a short-term setback and saying the cryptocurrencies rose very well in the long term, especially Bitcoin.