Chinese Smartisan CEO Hodling Cryptocurrency Turns 1 Million Into 30 Million Windfall
Luo Yonghao, founder of smartphone startup Smartisan who aims to be the next “Steve Jobs of China”, posted a weibo (Chinese version of twitter) claiming that his 1 million yuan ($160,000) investment in cryptocurrency of early days turned into a 30 million ($4,700,000) windfall.
It soon got spread and triggered heated discussion with thousands of comments and likes. As it’s known that celebrated entrepreneurs in the country would like to conceal, even deny their crypto holdings for the government’s escalated crackdown on it. In this context, Luo’s move to make it known to the public caused a sensation, especially in the crypto world of the country.
The weibo is a response to a backbone developer of his company who jokingly said he’ll quit the current job to be a full-time crypto investor.
“I work hard day and night, even forget about the one million invested in cryptocurrency, until recently I noticed that it has spiked up to 30 million.”
It ‘ridicules’ that the developer’s frequent buying and selling cryptocurrencies eventually earns him little money, but his HODLING and neglect brings him windfall gains.
As for when he started the crypto investment and what cryptocoin he is hodling, it was not mentioned, which also leads some people suppose that it maybe a brag.
Who is Luo Yonghao?
Luo started off as a high school dropout. He took on odd jobs like running a lamb skewer shop, selling computer parts and reselling smuggled cars. Under financial stress, Luo taught himself English and became a teacher at Beijing’s renowned language school – New Oriental, where he met Li Xiaolai who also worked there before being a bitcoin whale. That’s also where he got his first taste of fame. His students were so amused by Luo’s bold humor and off-topic anecdotes that they secretly recorded his lessons and shared them online, soon they went viral and Luo thus became an internet celebrity.
After resigning from the language school in 2006, dissatisfied at other platforms censoring his ballsy, often cynical posts about Chinese authorities, he launched a blogging platform dubbed Bullog. It attracted bloggers who weren’t afraid to speak up, and quickly became one of the most influential websites in China. The government eventually shut the website down three years later, but this time Luo didn’t fight back, because, in his words, “I had to feed my family.” In 2012, he established Smartisan and aimed to surpass Steve Jobs in this industry.
Fascinated by his ballsy personality and witty utterance, Luo has over 14 million fans on the platform of weibo. His openly talking about cryptocurrency might lead a huge number of fans into the blockchain sector, and for bitcoiners, it is a good example that teaches the meaning of hodling.