Former Huaxing Capital investor: Investing in Circle seven years ago had a lucky element, but now the market value of $20 billion is unexpected

Odaily Planet Daily News: Lei Ming, a former investor in Huaxing New Economy Fund, invested in Circle in 2018. In his latest interview, he said that investing in Circle seven years ago had a certain element of luck. At that time, Circle's main business was not stablecoins, with a valuation of only 3 billion US dollars. Now, the market value of 20 billion US dollars is somewhat unexpected. The core judgment of investing in Circle is that blockchain technology can create great commercial and social value in the future, and the essence of finance is license ability. Circle was precisely the company with the most complete license at that time. Circle was listed on the New York Stock Exchange last week, becoming the "world's first stablecoin stock". After two trading days, the stock price has risen 247.42% from the issue price, with a market value of approximately $24 billion. The IPO of Circle ultimately raised $1.1 billion and received over 25 times oversubscription. (IPO was known earlier) Previously, Hong Kong listed company Huaxing Capital disclosed that its managed Huaxing New Economy Fund had invested in Circle as early as 2018. The company will continue to be optimistic about the development of blockchain technology and actively explore its layout in the Web3.0 and cryptocurrency asset fields.