Meitu Founder Cai Wensheng Announces Accumulation of 10,000 Bitcoins (also, Theta Tokens!)


 
 scmp.com
 In a recent interview with Chinese technology company Meitu Inc. Founder Cai Wensheng announced that his Bitcoin holdings have reached a personal milestone of 10,000 BTC and discussed his investments in altcoins. He also compared the current state of the cryptocurrency industry to the internet’s state in the early 2000s. He said he achieved the extensive accumulation during 2018’s bear trend: “When I clearly saw the future of blockchain and bitcoin, I set a goal for myself – owning 10,000 bitcoins, and now the goal has been achieved.” Wensheng claimed, “Back in this January I only had several bitcoins, just to follow the trend.” He states, he then “realized that blockchain and bitcoin are the future,” which led him to “set the goal of accumulating 10,000 bitcoins.” Though he had been enticed by the gains made by the 2017 Bitcoin markets, he patiently waited for the markets to retrace. He recounts, saying “Last December saw the great spike and I didn’t buy any bitcoin at that time. Later when the price corrected to normal in January, I began the career by buying in bitcoins at low cost.” According to Wensheng, in his view, “the big difference between investment and speculation is the mindset. Suppose you buy in a stock share or a cryptocurrency but the price keeps falling after that, if you are an investor, you will be delighted at the stumble for it means good time to buy more in; on the contrary, if you keep complaining of the slowdown, no offense but I think you are actually a speculator.” Wensheng emphasized the need for new investors to exercise caution and due diligence when entering the markets despite asserting that one must have the needed psychology for successful trading. He said, “Of course, before you get started, thorough research and analysis is a must.” The Meitu founder described the present state of the cryptocurrency markets to the internet sector in the early 2000s. He said, “It is the similar case with Internet in 2000, startups die away in batches when the Internet bubble burst back then, few made it. While if you bet the right one, the returns are beyond your imagination.” He continues, saying he has “invested in a dozen of blockchain projects” such as “Theta, Ontology, Cortex, Arcblock, Zipper, Yeecall, Dxchain, [and] Charter.” He claims that some of his investments have yielded “fairly high returns and some are still losing money.” Wensheng also described the performance of the markets’ as “reasonable […] as blockchain is still in its early phase and practical applications are lacking, in this way, it needs more support and patience. In the long run, it’s promising and time will tell.”