Former Huaxing Capital investor: Investing in Circle seven years ago was a matter of luck, but its current market value of $20 billion is unexpected

Odaily Planet Daily News Lei Ming, who was once an investor of Huaxing New Economy Fund, invested in Circle in 2018. In his latest interview, he said that there was a certain element of luck in investing in Circle seven years ago. At that time, Circle's main business was not stablecoins, and its valuation was only US$3 billion. Now its market value of US$20 billion is somewhat unexpected. The core judgment of investing in Circle is that blockchain technology can create very large commercial and social value in the future. The essence of finance is license ability, and Circle happened to have the most complete licenses at that time. Circle was listed on the New York Stock Exchange last week, becoming the "first stock of global stablecoins". After two trading days, the stock price has risen by 247.42% from the issue price, with a market value of approximately US$24 billion. In this IPO, Circle finally raised US$1.1 billion and received more than 25 times oversubscription. (IPO Early Knowledge) Previous news, Hong Kong-listed company Huaxing Capital disclosed that its 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 the layout in the fields of Web3.0 and cryptocurrency assets.