He is one of the most controversial figures in the crypto world.
At 25, he spent his savings to buy Bitcoin, and by 33, his net worth was $17 billion 💰
He led the Bitcoin fork, challenging Satoshi Nakamoto's belief.
Some called him the 'Bitcoin overlord', while others said he was a 'terrorist'.
His story is crazier than the coin price: 🧵
👶 In 1986, Chongqing
Wu Jihan was born. He was a top student from a young age, enrolled in the Economics Department of Peking University, and also minored in Psychology. During university, he became fascinated with the Austrian School of Economics, believed in free markets, opposed government intervention, and his life idol was Warren Buffett.
📉 In 2009, graduated from university
Just after the global financial crisis, everyone was losing in the Chinese stock market. Wu Jihan did not enter an investment bank but went to Huaxing Capital, witnessing the rise of China's internet and heard about 'Bitcoin' for the first time.
💡 At a glance: 'This is a financial freeport, a paradise for anarchists.'
🧑💻 In 2011, entered the Bitcoin scene
He used 'QQAgent' as a nickname and became one of China's earliest Bitcoin evangelists, also translating Satoshi Nakamoto's white paper.
Collaborated with an engineer from Guangxi to establish China's first Bitcoin news site—8btc.
But what really made him wealthy was not preaching, but—daring to bet!
🎰 In 2012, ALL IN on the KMD miner
A geek named 'KMD' developed ASIC miners, and Wu Jihan invested 15,000 Bitcoins in one go 💥 (yes, it was all in)
Bet won!
KMD miner's performance was explosive, at one point controlling half of the network's computing power. Wu Jihan made tens of millions in just a few months and fully believed: miners are king!
🔧 In 2013, founded Bitmain
He no longer relied on others, bringing in Zhan Ketuan from Beihang University to make chips and miners himself. Bitmain burst onto the scene!
After launching the Antminer, he aggressively took down competitors, monopolizing the global miner market, and his AntPool became the world's largest mining pool, controlling over 20% of the computing power.
🔥 In 2017, launched the Bitcoin fork war
Bitcoin transactions became increasingly slow, and the community was divided.
Wu Jihan was unhappy with the American team's 'conservatism', took the lead in the fork, and launched BCH (Bitcoin Cash).
Some called him the 'new Satoshi Nakamoto', while others called him a 'Jihad terrorist' 😅
That year, BCH was at its peak, and Bitmain seized the opportunity to push for an IPO.
📈 In 2018, reached the peak
Bitmain's half-year revenue was $2.8 billion, net profit of $740 million, and Wu Jihan made it to Forbes' billionaire list.
But the peak moment was also the beginning of the crisis—
🧨 He wanted to continue betting on BCH, but Zhan Ketuan wanted to shift to AI, and the two began internal strife...
🥊 In 2019-2020, the company staged a palace drama
Wu Jihan's 'coup' took power, and Zhan Ketuan was kicked out.
Some even directly snatched the business license, fighting on the spot and calling the police; the capital market was dumbfounded.
Bitmain's valuation evaporated by 50 billion overnight 💥
In the end, the two reconciled, and Wu Jihan completely left, taking away the BTC mining pool and 'Bit Deer'.
🚀 New battlefield: Bit Deer
Focusing on overseas mining, once valued at $4 billion, but shrank to $1.18 billion due to market crash.
Wu Jihan did not give up and continued to push for the IPO.
📅 In March 2023, Bit Deer successfully went public on NASDAQ through a SPAC!
🙌 Today he
is no longer high-profile but still adheres to liberal ideals. Although BCH has been silent, he has never given up.
Wu Jihan is both a builder and a disruptor.
He has supported the entire mining circle and almost burned it to ashes.
🧠 He was the first to translate the Bitcoin white paper into Chinese;
🛡 He was also the first to directly challenge the American development team.
His legend is not just about miners and BCH,
but also the first appearance of Chinese people in the crypto world! 🌏
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