The first person in China's cryptocurrency circle: At 25, he 'all-in' on Bitcoin, and 8 years later has a fortune of 17 billion, but was kicked out of the company. How did he do it?
Original Guagua Lying Island Coral
January 20, 2025 12:04 Jiangsu 345 people
"Either lose everything or earn a hundred times."
This widely popular saying in the cryptocurrency circle comes from Bitmain CEO Wu Jihan.
In 2011, when Wu Jihan first encountered Bitcoin, he started calling friends to borrow money.
Finally, Wu Jihan borrowed 100,000 and put all his money into buying 900 Bitcoins.
By 2014, when the fund was liquidated, Bitcoin's price had surged past $300!
This was Wu Jihan's first pot of gold.
The rise of a Chongqing teenager
Wu Jihan was born in 1986 in an ordinary family in Chongqing. From a young age, he showed extraordinary learning talent and was considered 'the child of others' by his parents.
With outstanding results, at the age of 19, Wu Jihan successfully entered the School of Economics at Peking University from Chongqing Nankai High School.
After graduation, Wu Jihan joined a venture capital firm, starting as a grassroots analyst. With solid professional knowledge, he quickly rose to the position of investment manager.
In 2011, the concept of Bitcoin was like a stone thrown into a calm lake, creating ripples in the keenly perceptive financial industry.
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At that time, Wu Jihan had already made a name for himself in the venture capital field, but deep down, he always longed for a truly world-changing opportunity.
When Bitcoin appeared, Wu Jihan's heart was deeply touched. He spent two to three days carefully studying Satoshi Nakamoto's Bitcoin white paper.
This process was like opening a door to a new world, completely igniting his long-hidden 'merchant nature' within.
This virtual currency, born against the backdrop of the 2008 global financial crisis, attracted countless people's attention with its decentralization and anonymity.
In Wu Jihan's view, Bitcoin has enormous potential and is expected to disrupt traditional currency and financial structures.
After careful consideration, Wu Jihan made a bold decision — to 'all-in' on Bitcoin.
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He knew that this decision meant enormous risk; Bitcoin's price was highly volatile and could leave him penniless.
But he also knew that once Bitcoin succeeded, he would reap unimaginable rewards. Thus, Wu Jihan took out all his savings and raised 100,000 yuan from friends and family to buy 900 Bitcoins.
At that time, this action was met with skepticism and opposition from many, even his friends and family thought he was crazy: how could he invest money into such an illusory virtual currency?
But Wu Jihan remained unmoved; he firmly believed in his judgment and resolutely embarked on this unknown path of Bitcoin.