Deep Tide TechFlow news, on October 31, Wang Feng, founder of Blueport Interactive, recalled in a social media post that in 2019 he proposed the company invest $20 million to purchase Bitcoin (then priced at less than $6,000 each), but was strongly opposed by board members and threatened with legal action by a major shareholder representative. It wasn't until early 2023, after Wang Feng resumed the role of CEO, that the company began to implement its Bitcoin investment plan, but by then the price of Bitcoin had risen to $26,000 each.
This statement stems from Wang Feng's comments on MicroStrategy's recent plan to raise $42 billion in funding over the next three years. Notably, MicroStrategy only began purchasing Bitcoin on a large scale in 2020, and if Blueport Interactive had executed its investment plan in 2019, it could have achieved substantial returns.
According to Wang Feng, when he founded Mars Finance in 2018, the platform secured nearly $10 million in financing within a year, with monthly advertising revenue reaching a peak of 120 Bitcoins, and a single conference in the summer of 2020 could attract about 10 million RMB in sponsorship.
