Blueport Interactive founder Wang Feng: In 2019, he proposed that the company invest in Bitcoin and was threatened with a lawsuit by shareholders

ChainCatcher news, Wang Feng, the founder of Blueport Interactive, recalled in a social media post today that in 2019 he proposed the company invest $20 million to purchase Bitcoin (which was priced at less than $6,000 each at the time), but faced strong opposition from board members and a representative of a major shareholder who threatened to sue. It wasn't until early 2023, after Wang Feng resumed the role of CEO, that the company began to implement the Bitcoin investment plan, but by then the price of Bitcoin had risen to $26,000 each.

This statement stems from Wang Feng's comments on MicroStrategy's recent plan to raise $42 billion in funding over the next three years. Notably, MicroStrategy only began purchasing Bitcoin on a large scale in 2020, and if Blueport Interactive had executed its investment plan in 2019, it could have potentially reaped substantial profits.

According to Wang Feng, when he founded Mars Finance in 2018, the platform secured nearly $10 million in funding within a year, with monthly advertising revenue peaking at 120 Bitcoins, and a single conference in the summer of 2020 could attract approximately 10 million RMB in sponsorship.