Recommended words: In recent years, virtual currency has become a hot word. For example, Bitcoin and Radarcoin, which many people are talking about, are a form of virtual currency. Of course, the most popular among them is Bitcoin. It was not well known back then, but now one Bitcoin can be exchanged for tens of thousands of dollars, and more people have begun to flock to it. The person to be introduced in this article bought 100,000 Bitcoins at a low price back then, and the value increased 13 million times in the next 9 years. He was therefore called the "richest man in Bitcoin". This person is Li Xiaolai.

Crazy buying of 100,000 Bitcoins

Mentioning this name, many friends in the currency circle have heard of Li Xiaolai’s deeds, and it has even become a legendary story. Before introducing him, let’s first understand what Bitcoin is and its historical background. As a form of virtual currency, the concept of Bitcoin was first born in 2008. Its biggest feature is that it does not rely on currency issuing institutions, but is generated through a large number of calculations based on specific algorithms.

At the beginning of its birth, the value of Bitcoin was not yet recognized by people. At that time, one US dollar could be exchanged for about 1,300 Bitcoins. It is precisely for this reason that Li Xiaolai was able to buy 100,000 Bitcoins in one fell swoop. He is one of the first people in the currency circle to understand and realize the value of Bitcoin, and he is considered a big-shot figure in the industry.

Prices skyrocketed, and Li Xiaolai became the richest man in Bitcoin

What no one expected was that the price of Bitcoin, which was ridiculously cheap back then, would continue to rise. By 2017, the price of a single Bitcoin set a record - $19,850. Although its price has risen and fallen since then, it has basically stabilized above $10,000. By November this year, the price of Bitcoin once again exceeded the $14,000 mark.

It can be said that those who held Bitcoin in the early days must have made a lot of money now. After all, in just 9 years, its price has soared 13 million times. It was precisely by virtue of the large number of Bitcoins he bought in his early years that Li Xiaolai not only gained huge wealth, but his story began to become well-known. Many people admire his unique vision and clearly recognized the value of virtual currency before it became popular.

Personal assets exceed 7 billion yuan

Information shows that Li Xiaolai taught English at New Oriental for a period of time in his early years, and later published many books. After becoming a millionaire thanks to Bitcoin, he now owns his own company. Based on today's exchange rate calculations, his total personal assets have exceeded 7 billion yuan. However, Li Xiaolai, who made his fortune in Bitcoin, actually questioned the value of virtual currency some time ago.

It is reported that Li Xiaolai, who rarely appears in people's sight, answered a question from netizens in a live broadcast: How many Bitcoins do you still have in your hand? In response, he smiled and replied that these are outdated things. If you can't help buying them, don't buy them because they are all scams and he no longer has any Bitcoins in his hands. If this statement is true, then he should have been delisted.

Summary: Although a savvy person like Buffett still does not recognize the value of Bitcoin, he still chooses to speculate in coins. In the author's opinion, the current value of Bitcoin is somewhat artificially high and does not match its own value. If you are a layman, it is best not to touch virtual currencies. Having said all that, what other stories do you know about Bitcoin?