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

Planet Daily News: Lei Ming, a former investor at Huaxing New Economy Fund, invested in Circle in 2018. In his latest interview, he stated that there was some luck in investing in Circle seven years ago. At that time, Circle's main business was not yet stablecoins, and its valuation was only $3 billion. Now, a market value of $20 billion is somewhat unexpected. The core judgment for investing in Circle was that blockchain technology could create significant commercial and social value in the future. The essence of finance is licensing capabilities, and Circle happened to be the company with the most comprehensive licenses at the time. Circle went public on the New York Stock Exchange last week, becoming the "first global stablecoin stock". After two trading days, its stock price has risen 247.42% from the issue price, with a market value of approximately $24 billion. This IPO raised $1.1 billion for Circle and received over 25 times oversubscription. (IPO Insider) Previously, the Hong Kong-listed company Huaxing Capital disclosed that its Huaxing New Economy Fund had invested in Circle as early as 2018, and the company will continue to be optimistic about blockchain technology development and actively explore layouts in Web3.0 and cryptocurrency asset fields.