Bitget Dialogue with Lin Wanwan: Seizing the Kondratiev Wave of the Era, Understanding the "Trump Trade," AI, Cryptocurrency, and the Logic of Cross-Border Investment in US Stocks

Cryptocurrencies and US stocks seem to be two entirely different worlds, yet they are increasingly intersecting for many investors. How can we use traditional financial research frameworks to understand the crypto market? How can we find our own allocation logic between the two markets?

Today, we invite Lin Wanwan. She has a background in traditional financial research but became involved in the crypto industry after relocating to Singapore, where she has since delved into AI agents, crypto research, US stock investments, and more. She is not the type of investor who makes quick money by luck; rather, she is a thinker who seeks certainty opportunities through research frameworks and cognitive differences.

From Traditional Finance to a Firm Bitcoin Holder: The Long-term Belief Behind Buying More as Prices Fall

Lin Wanwan entered the crypto industry through two key opportunities:

The first is a change in geographical location.

She moved to Singapore due to her family's relocation, shifting her life focus. In the process of rebuilding her social circle there, she discovered that many of her old friends were OGs in the crypto space. "After communicating with them, I realized how fascinating this industry is."

She compared the ecosystems of traditional finance and the crypto industry: "To be honest, traditional finance has lost some vitality. Many people say that the crypto field is filled with scams or dishonorable things. But in the crypto industry, I feel that everyone is doing what they want to do, full of passion and moving forward. This charm is very appealing to me."

The second is a book.

She read "Hoarding Bitcoin" by author Jiu Shen, which was written in 2018 and accurately predicted that Bitcoin would rise to $100,000 around 2024 to 2025. "I happened to read this book around the time Bitcoin was near $100,000, and I thought, how could this person make such an accurate prediction in 2018?"

What impressed her even more was a long-term prediction in the book—the author believes that in 20 years, Bitcoin's price could reach around $200,000. "I don't know if it will come true, but it is indeed changing in that general direction. If you believe it can compete with gold in 20 years, why not hoard a little as part of your asset allocation? It may provide better investment returns than gold."

She later also reviewed Michael Saylor's speech at a Bitcoin conference and found the logic to be similar. Saylor mentioned that buying Bitcoin between 2022 and 2025 is akin to buying land in New York in 1790.

"Although everyone thinks Bitcoin at tens of thousands of dollars is already expensive, in the long river of history, it is still in a very early stage."

These two opportunities combined led her to officially enter the crypto industry and form her core holding logic regarding Bitcoin—having coins in hand, no coins in heart. Regardless of the price, first discuss whether you have it, then discuss how much you have.

For Bitcoin's short-term fluctuations, she has a very clear psychological framework. "I have a position management strategy for Bitcoin—buy more as it falls. This portion of money is something I won't use in the next few years. Moreover, the more it falls, the happier I am because I can buy more coins with the same amount of money."

She even expressed a statement that many might find unexpected: "I am grateful for its decline. I personally believe it still has a chance to drop in the short term; that's fine, I can continue to buy." This mindset reflects a deep recognition of the long-term value of the asset, rather than a gambler's mentality of short-term speculation.

AI, Crypto, and US Stocks: One Answer—Why AI is the Most Important Investment Trend Right Now

When asked how her traditional finance background has influenced her crypto investment career, Lin Wanwan's response revolved around the word "perspective": "The greatest gain that finance has given me is a matter of perspective. Artists have their perspectives, philosophers have theirs, and investing is also a very important perspective."

She provided a vivid example: "Before using an investment perspective, when I looked at a cup of milk tea, I just thought about whether it tastes good. After applying an investment perspective, when you look at a cup of milk tea, you think about the rental costs, labor costs, and you have a completely different way of observing."

With this framework, she formed a clear judgment regarding the current market landscape: AI is the most important direction of this era, and it is not separate from crypto and US stocks.

Lin Wanwan's Twitter bio includes four keywords: AI Agent, Crypto Research, US Stocks, and Predictive Markets. When asked which direction she is focusing on this year, her answer was straightforward: this year, AI is prioritized. However, she also pointed out that these four directions should not be viewed in isolation. "Especially the first three; they complement and intersect with each other."

She explained her judgment logic: in this bear market, the crypto industry is undergoing a narrative shift, increasingly resembling AI's underlying computation and accounting tools, with decreasing independence; at the same time, more and more crypto-related companies are listing on US stocks, and Nasdaq is promoting the tokenization of US stocks—these three directions are merging into one. "Therefore, the largest proportion of my US stock positions is AI-related. My research and learning in AI also serve my US stock investments."

She quoted the late chief economist Zhou Jintao to support this judgment: "Wealth in life relies on K-wave. Whether you can make money is not fundamentally about how hard you work, but whether you can grasp the trends that the times present to you. You might grasp three to five such opportunities in your life, and that would be very comfortable."

In her view, AI is the window that is currently opening in this era, similar to real estate in Beijing's second ring road 20 years ago or Apple stock 20 years ago. "Buying an Apple phone 20 years ago wasn't important, but buying Apple stock 20 years ago was very important. What we need to think about now is, in this AI era, what is the equivalent of Apple 20 years ago?"

The answer to this question is precisely what she is continuously seeking at the intersection of crypto and US stocks through the lens of traditional financial research.

Understanding the "Trump Trade": Finding Buying Points When Others Panic

When asked about her recent successful investments, Lin Wanwan mentioned that she bottom-fished during market lows last year during the tariff period and this year during the war, especially buying Nvidia around $93 last year.

The logic supporting these two operations stems from her research on Trump after he took office and before the tariff war:

1. Reviewed the market reactions during Trump's previous term. "Trump has a nickname 'King of Understanding'; he is essentially someone with a very high understanding of the US stock market. I revisited his previous presidency and how his policies reacted in the market—tariffs caused a market crash, followed by a very strong reversal."

2. She read Trump's autobiography. From it, she discovered two notable characteristics of Trump: first, he loves to exaggerate deliberately, treating "reasonable rumors" as negotiation tactics; second, he is very skilled at using language to replace actual policies to achieve the same effect. "When he is manipulating the market with language, he is actually giving you an opportunity to get in."

In March and April of last year, there was talk in the market about a "once-in-a-century Great Depression in 1929," which Lin Wanwan completely disagreed with. "I think this is the opportunity Trump gives you. Whether short-term traders or medium-term investors, everyone should be grateful to Trump—his artificially created volatility has provided traders with many upward profit opportunities."

She summarized an operational logic: buy the rumor, sell the news, and sell based on certainty. The uncertainty created by Trump is, in fact, a signal to enter the market.

Crypto is a Game, US Stocks are Win-Win—Lin Wanwan Investment Q&A

Q: What single stock do you currently favor the most?

Lin Wanwan: Nvidia. I think it has the potential to become the Apple of 20 years ago, so for me, it is a role worth holding long-term; it is my core holding, and I have some faith in it.

Q: But Nvidia's performance this year hasn't been impressive; it has been stagnant. Will you waver?

Lin Wanwan: Indeed, it has been oscillating in the $170 to $200 range for a long time this year, which is a test of patience. But because of this, my attitude towards Nvidia is different from other hot sectors—while I might sell other stocks more flexibly at a high price, I will retain a portion of my Nvidia position for long-term holding and not easily change it. A core holding is a core holding; you can't lose faith just because of short-term stagnation.

Q: If you were given $1 million right now, how would you allocate it?

Lin Wanwan: I would first ask myself three questions: what are the liquidity requirements for this money, will I use it in the next few years? Have I established my overall allocation framework? Are there more opportunities in the current market, or can my personal alpha outperform the market?

Based on this thinking framework, my current actual allocation is roughly: 40% in crypto, with Bitcoin as the core holding; 30% in US stocks; and 30% in cash.

Keeping so much cash is because I believe there is still a significant possibility of market volatility, including that US stocks are currently at a high level. Holding cash allows me to have ammunition—when a real downturn comes, you won't be fully invested and thus unable to act in front of a true big opportunity. Having ammunition in hand allows you to act calmly when others panic.

Q: What cognitive reminders do you have for investors looking to transition from crypto to US stocks?

Lin Wanwan: I asked my friend why he doesn't buy US stocks, and he replied, "In US stocks, my competitors are Buffett and Duan Yongping; it feels like I can't win." This response made me realize that the difference between crypto thinking and US stock thinking is indeed very large.

Crypto is a game mentality; if you win, you earn someone else's money. But US stocks are not like that—they are a longer-term investment logic. If Buffett makes money, I can also make money; we can learn their methodologies and make money together. The capacity of US stock funds is very large; the big players don't even look at our small amounts of money. As long as the methodology is good enough and you have enough patience, ordinary investors can achieve stable results in this market.

Q: How should one specifically get started with US stocks?

Lin Wanwan: I suggest taking two steps.

Step one, spend time learning the overall investment framework and understand what determines stock prices—macroeconomic environment, company financial reports, industry fundamentals; these are the foundation and cannot be skipped.

Step two, you can learn about the CFD tool and understand its role in leveraging in US stocks. It is very suitable for event-driven short-term trading, such as short-term surges after news of negotiations is confirmed, using small funds combined with leverage to capture such certainty opportunities, which can be cost-effective. I believe platforms like Bitget that are doing CFDs are likely to produce star traders specializing in news event trading in the future.