Chinese Investor Cai Wensheng Says He Has 10,000 Bitcoins

Cai Wensheng, an investor from China says he has 10,000 bitcoins. In an open group Q&A session with Wang Feng on WeChat yesterday, Cai disclosed that although he was holding a single bitcoin in January of this year, he moved to increase his portfolio over the first quarter of 2018 amid the bearish market’s lower prices. Cai’s holdings are now worth around $96 million.

Cai explained his reasoning for the investment saying: “I only had single digit unit of bitcoin, just for fun in January. But when I got certain that bitcoin and blockchain is the future, I set the goal of holding 10,000 bitcoins. So, I started around end of January to build my holdings following the price decline. The more it dropped, the more I bought in and now the mission is basically complete.”

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. Cai’s disclosure makes him one of the few big-name investors in China to have openly disclosed their bitcoin holdings.