Wang Feng: 2019 had proposed that Blue Harbor Interactive invest in Bitcoin, but was threatened with a lawsuit by shareholders

October 31, in response to MicroStrategy's recent plan to raise $42 billion in the next three years, Wang Feng, founder of Blue Harbor Interactive, said in a post on the X platform today that in 2019 he had proposed that Blue Harbor Interactive invest $20 million to buy Bitcoin (at that time, the price was less than $6,000 per coin), but it was strongly opposed by members of the board of directors, a representative of a major shareholder and threatened to sue. He currently laments that this plan was not implemented at the time, and said, “MicroStrategy massively start buying bitcoin just in 2020, if my plan in 2019 at the listed company can be executed, we have about 2 billion RMB in cash on the books.” Then, Wang Feng mentioned that the company didn't start executing its bitcoin investment plan until early 2023 when Wang Feng was back as CEO, but by then, the price of bitcoin had risen to $26,000 per coin.

In addition, Wang Feng revealed that when he founded Mars Finance in 2018, the platform had received nearly $10 million in funding within a year, with monthly ad revenue topping out at 120 Bitcoins, and a single conference in the summer of 2020 that could garner around 10 million RMB in sponsorship.