Billionaire and pioneering entrepreneur Jihan Wu has made his fortune on crypto. Despite ongoing volatility still leading to major price fluctuations, he’s betting that crypto is poised to get bigger in the years to come—to the tune of tens of trillions of dollars.
In a rare interview with Forbes, Wu predicted that the increased proliferation of crypto investments in markets the world over will lead to substantial growth for the companies that help manage these assets. With technological advances helping crypto become even more convenient and secure, Wu argues, it’s only a matter of time until “traditional financial institutions and regulators will embrace blockchain technology.”
Wu has certainly seen bitcoin and other cryptocurrencies go through their share of ups and downs over the last decade. Investing heavily in Bitcoin while working as an investment analyst in 2011, Wu formed a team to manufacture ASICs to facilitate the mining of the cryptocurrency. He narrowly managed to steer his record-breaking company, Bitmain, through the 2018 Bitcoin crash, spinning off crypto mining platform Bitdeer Technologies and financial services firm Matrixport over the last year. Now, with an estimated net worth in excess of $2 billion, Wu is positioning himself on the front lines of the next wave of crypto innovation.