RATE Group | Chinese Bitcoin Billionaire Unexpectedly Exits Crypto Industry, Controversy Ensues
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Chinese Bitcoin Billionaire Unexpectedly Exits Crypto Industry, Controversy Ensues

30 Sep Chinese Bitcoin Billionaire Unexpectedly Exits Crypto Industry, Controversy Ensues

Posted at 22:10h in Ethereum News by

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Cryptosphere Says Goodbye To Chinese ‘Bitcoin Tycoon’

You may not know his name, but Li Xiaoli, China’s in-house Bitcoin billionaire and blockchain investor, is one of the most well-known, experienced individuals in the entire cryptosphere. However, despite his prestige in this nascent industry, he has unexpectedly announced that he intends to stop investing actively in this space in the future.

For those who are unaware, Li is the founder of BitFund, a Beijing-based venture capital fund with a focus on promising cryptocurrency and blockchain projects. Over the course of his time in this industry, he has been touted as one of China’s largest Bitcoin holders, with rumors stating that he owns tens of thousands (if not hundreds of thousands) of the shiny gold digital tokens.

According to a post from the billionaire on Weibo, one of the most popular social media platforms in China, as translated by TechNode, Li wrote:

From this day on, I, Li Xiaolai, will personally not invest in…

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