We sorted through nearly a hundred Bitcoin Weibo posts by private equity tycoon Dan Bin and found five interesting details

This article was published on Babit, authored by Wang Jiajian.

Dan Bin, a prominent figure in China's private equity sector, has recently gained significant attention in the cryptocurrency world for purchasing a Bitcoin ETF, which is seen as a representative and symbolic event of traditional Chinese investors being "conquered" by Bitcoin's rise.

Additionally, after the Spring Festival, the premium on USDT has noticeably increased, which may indirectly indicate that purchasing volume in the Asia-Pacific region is rising, with more funds entering the Bitcoin space.

Is Dan Bin really that impressive? Of course, he began his research and investment in securities and futures in 1992, and has since been dedicated to fundamental research and investment in financial markets such as stocks and futures, emphasizing value investing. His book "The Rose of Time" is considered a bible for many investors. Over the years, he and his founded institution, Dongfang Harbor (an investment firm), have won numerous important investment awards in the industry.

Perhaps what Dan Bin is most praised for is his investment in Moutai, and he has consequently become the best spokesperson advocating for Moutai's value.

How did such a well-known figure in China's investment community get involved with Bitcoin? We have compiled Dan Bin's posts about Bitcoin on Weibo over the past eight years, totaling over a hundred entries. Let's take a look at what this private equity mogul has experienced.

2013/11/14

"Internet Finance Daily: Bitcoin price breaks $400."

Note: This is Dan Bin's first Weibo post related to Bitcoin, sharing a news article from Sina Finance. There are 13 comments below, mostly expressing disbelief, absurdity, madness, and questions about what Bitcoin is.

A few days after November 2013, Dan Bin posted seven consecutive Weibo entries related to Bitcoin, including media reports such as "Bitcoin has risen 40 times in a year: the shadow of Chinese aunties reappears."

It is reasonable to speculate that Dan Bin was introduced to Bitcoin during the first bull market in 2013. That year, Bitcoin rose 40 times.

2014/2/20

"Fu Sheng: Yesterday, the California State Assembly agreed to recognize Bitcoin as legal currency for cross-border transactions. This is terrifying. In the future, we won't need to carry US dollars when we go abroad; we can buy fifty Bitcoins and exchange them for dollars in the US."

Note: This is a reposted microblog, with Yang Linke commenting: "No wonder it's the birthplace of the Internet!" (referring to the United States)

2014/2/26

"Trading platform Mt. Gox's closure severely impacts Bitcoin, losing user confidence." (This is a news article)

Note: Dan Bin's Weibo records the history of Bitcoin.

2014/3/5

"Listening to a group of young investors talk about Bitcoin feels like listening to a foreign language. The era is constantly moving forward!"

Note: This is Dan Bin's first expression of opinion on Weibo! It can be seen that his understanding of Bitcoin over the past few months is still insufficient, possibly just curiosity. However, this does not prevent him from feeling excited about Bitcoin as an investment product.

After that, Dan Bin reposted some Bitcoin news, very rarely; for example, only one post in 2015 and none in 2016.

2017/5/19

"Despite the negative impact of the ransomware virus, Bitcoin reached a new high of 11,349 yuan during trading." (This is a news article)

Note: Starting from this month, Dan Bin began to post Weibo entries related to Bitcoin again. Most of the content involved Bitcoin's price reaching historical highs. It can be seen that after 2013, Dan Bin may not have been deeply attracted to Bitcoin; what caught his attention was still Bitcoin's price.

2017/10/7

"Half of the world's Bitcoin is mined by Chinese people. What does this indicate?" (This is a news article)

Note: Netizens commented, indicating China's efficiency. Wasting national resources! Falling for foreign schemes. Wealthy. Gambling, mostly eager to get rich overnight! Indicating that Chinese people are hardworking!

2017/12/9

"A bubble in human history." See the image.

Note: This Weibo post has 738 shares, with a netizen asking if Bitcoin's bubble bursting would affect other financial products and subsequently impact China's capital market. Dan Bin replied that he personally believes it won't! Some friends saw it at 1 million! I don't understand this thing!

2017/12/23

"No matter what, Bitcoin's madness will leave a mark in the long river of history!" (And reposted an article about Bitcoin's price possibly halving)

Note: At this point, it was almost at the peak of the 2017 Bitcoin bull market, and Dan Bin's Weibo posts were very frequent. From the phrase "no matter what," it can be seen that for four years, Dan Bin has been "skeptical" about Bitcoin.

2018/2/24

Reposted a blog post titled "Charlie Munger at the DJCO Annual Meeting: Leave Wells Fargo Alone, Bitcoin is Completely Stupid."

Note: After this, Dan Bin's posts decreased, corresponding to the market, as Bitcoin peaked and then entered a bear market in 2018.

2019/6/5

An emoji covering its eyes.

Note: From 2018 to 2019, Dan Bin's posts about Bitcoin on Weibo were very few, mainly reposts, mostly about Bitcoin's price plummeting. He reposted a tweet related to Sun Yuchen dining with Buffett twice.

2020/2/9

"Bitcoin returns to the $10,000 mark for the first time since October 26 of last year." (This is a news article)

Note: Bitcoin's price has returned, and so has Dan Bin.

2020/12/17

First post: "Overseas headlines, Bitcoin has crossed the $20,000 mark for the first time in history." (This is a news article)

Second post: "Top financial documentary 'Bitcoin: The End of Money'" (video)

Note: At the beginning of the bull market, Dan Bin "went online," posting two Weibo entries in quick succession, indicating he was very excited. In January 2021, he reposted two market-related Weibo posts.

1. Bitcoin breaks through $24,000.

2. Bitcoin surpasses $40,000.

It is worth noting that Bitcoin broke through $20,000 at the end of December 2020 and skyrocketed, which aligns very well with the frequency of Dan Bin's Weibo posts; the higher the heat, the more "excited" Dan Bin became.

After February 2021, Dan Bin's Weibo posts related to Bitcoin flowed like a faucet, continuously! Moreover, he had the demeanor of a cryptocurrency opinion leader.

Here are a few excerpts to try to feel Dan Bin's mood; all are reposted news.

1. Several universities in the U.S. are continuously buying Bitcoin for their endowment funds.

2. Bridgewater founder claims Bitcoin is similar to gold, a brilliant invention.

3. Tesla has purchased $1.5 billion in Bitcoin and will accept Bitcoin payments. Dan Bin commented on this Weibo: "It has become a Bitcoin concept stock."

4. Bitcoin stands at $43,000 each, continuing to set historical highs.

5. ARK's "Queen of the Bull Market": Why Bitcoin is expected to reach $400,000?

6. Bitcoin is surging, approaching $50,000.

2021/2/15

"Will Bitcoin become a mainstream payment method?"

Note: This is almost one of the few expressions of opinion Dan Bin has made about Bitcoin in recent years! In the following days, he reposted some content:

1. Too intense! Bitcoin breaks through the $50,000 mark, the Queen of the Bull Market: expected to reach $400,000.

2. Bitcoin surges; Meituan's Wang Xing: Theoretically, Satoshi Nakamoto is already the world's richest person.

The key point comes!!!

2021/2/18

"I've been thinking about Bitcoin these past few days. In the past, I believed that no government could make it legal, even the U.S. would not want to lose 'seigniorage.' However, with Tesla allowing Bitcoin as a 'currency' for payment, its value may be enhanced. The total number of Bitcoins in the world is 21 million, and as of July 13, 2020, 15.85 million have been mined. If the number of long-term holders increases, or if companies like Tesla continue to join, reaching the $400,000 mentioned by ARK's 'Queen of the Bull Market' is very possible…"

Note: This Weibo post received 1,838 shares and 1,727 comments! Super popular. Someone commented, remembering a few years ago when you mentioned on Weibo that a friend told you Bitcoin would rise above $1 million, but at that time, you felt you couldn't understand it. Dan Bin replied: "I indeed didn't understand it back then, but today I think what ARK's 'Queen of the Bull Market' said makes sense!"

On this day, Dan Bin suddenly became a celebrity in the cryptocurrency world! Because he revealed on Weibo that he bought 1% of a Bitcoin ETF fund, and said: "Although it's a bit late, once I understand it, I will act! Of course, I bought relatively little, hoping to maintain some curiosity about new things!"

Interestingly, he may have deleted that Weibo post, but it has already been wildly screenshot and spread in the cryptocurrency community.

After February 18, Dan Bin holding Bitcoin became like Elon Musk holding Bitcoin, becoming a small influencer in shouting out market trends. Posts about Bitcoin's price and opinions surged.

However, Dan Bin's actual comments and opinions about Bitcoin are still very rare, mostly reposts.

Summary: I searched for keywords to review Dan Bin's Bitcoin-related Weibo posts over the years. I found five interesting details.

1. Dan Bin's Weibo posts are more frequent during periods of rapid Bitcoin price increases.

2. Dan Bin rarely expresses direct opinions about Bitcoin.

3. Dan Bin is not a devoted believer in Bitcoin. His Weibo mainly focuses on market trends. There is no indication of interest in Bitcoin's technology.

4. Dan Bin's acceptance of Bitcoin took about seven years. It shows that traditional investors find it challenging to accept Bitcoin.

5. The comments on Dan Bin's Weibo posts are actually more interesting. For example, in the most popular post on February 18, the comments below are extremely insightful.

1. Worthless, very certain, no need to explain too much, pure speculation is obvious.

2. Big brother, you are a boss after all; wouldn't it be better to teach everyone some correct, long-term value investment concepts? What are you thinking about? Really disappointing.

3. Since governments won't legalize it, stop promoting it; focus on your own track. Money can never be fully earned, but it can be completely lost. For the vast majority of gamblers who can't even understand A-shares, they should never touch Bitcoin. That couple who jumped into the sea in Zhejiang is the best negative example.

4. It's just a Ponzi scheme; once it bursts, nothing will be left. Short-term speculation can be a gamble.

5. Definitely don't buy Bitcoin; I bought it at $7,000, and now I don't know what to do.

Each comment has its own flavor; take a moment to savor them.