Former Huaxing Capital Investor: Investing in Circle seven years ago had an element of luck, and now the $20 billion market capitalization is unexpected.

Odaily News 雷鸣, a former investor of Huaxing New Economic Fund, invested in Circle in 2018. In a recent interview, he mentioned that there was a certain element of luck in investing in Circle seven years ago, when Circle’s main business was not yet stablecoin, and its valuation was only 3 billion USD. Now, the 20 billion USD market capitalization 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, and the essence of finance is the ability to hold licenses, while Circle happened to be the one with the most comprehensive licenses at that time. Circle went public on the New York Stock Exchange last week, becoming the “first global stablecoin stock.” Two trading days later, the stock price has risen 247.42% from the issue price, with a market capitalization of about 24 billion USD. This IPO raised a total of 1.1 billion USD for Circle and received more than 25 times oversubscription. (IPO Early News) According to previous reports, Hong Kong-listed company Huaxing Capital disclosed that its managed Huaxing New Economy Fund 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 fields of Web3.0 and cryptocurrency assets.