Chinese Bitcoin Billionaire Unexpectedly Exits Crypto Industry, Controversy Ensues

Cryptosphere Says Goodbye To Chinese ‘Bitcoin Tycoon’ …

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 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), just ignore it.

The Chinese Bitcoin tycoon went on to add that he has plans to sit on his laurels for “several years,” as he will contemplate where he wants to move and achieve next in his life, which he isn’t too sure of at the time of writing. There is still speculation that he still has plans to invest in blockchain projects, but through alternative means, like via an investment fund or institution, as Li may want to distance himself from the public spotlight.

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