Oct 1, 2018 13:02 UTC
Oct 7, 2018 at 20:54 UTC
Chinese Bitcoin Billionaire Said Goodbye to Crypto Industry
China’s in-house Bitcoin Billionaire and blockchain investor, Li Xiaoli has recently announced that in future he will stop investing actively in the crypto industry. Li Xiaoli is one of the most experienced and well-known individuals of the cryptosphere.
In a post on Weibo, the most popular social media platform in China, Li Xiaoli wrote that
From this day on, I, Li Xiaolai, will personally not invest in any projects (whether it is blockchain or early stage). So if you see “Li Xiaolai’ associated with any project (I have been associated with countless projects without my knowledge, 99% is not an exaggeration), ignore it.
The Chinese Tech Journal TechNode translated the post by Li Xiaoli. He also added that he wants to sit on his laurels for several years. According to Li, now it’s time to contemplate where he wants to move and achieve the next in his life. Right now he is not sure about his plans. Currently, people are speculating that he still has plans to invest in the blockchain projects, but through alternative means like investment fund or institution. Li Xiaoli may have some plans stay away from the public spotlight.
Li Xiaoli has founded BitFund, a Beijing based venture capital fund in the middle of 2013. He has started the fund with an amount of $3.5 million, and within a year BitFund became the most influential venture capital related to cryptocurrency in China. Soon he became the largest Bitcoin holder in China. If we believe the rumours he owns tens of thousands Bitcoin.
Li Xiaoli is an influential personality in the crypto industry, and his sudden exit will have an impact on the industry. Crypto enthusiasts from China are feeling sad about the step was taken by Li. earlier this year Li Xiaoli was forced to step down from his managing partner role at Hangzhou Xiong after Li was accused of several damming things by his colleagues. According to Chen Weixing, a Chinese venture capitalist Li is a tumour in the side of China’s cryptosphere.