Cai Wensheng, founder of Meitu, a well-known company which manufactures smartphones and selfie apps, made a recent statement that blockchain is the biggest bubble the world has ever seen and not letting it grow would be the biggest possible mistake.
Cai established Meitu in 2008 and led on to collect $630 million in a Hong Kong IPO.The well acknowledged company stands at a topping valuation of $5.6 billion today. In 2014, Cai made his first Bitcoin investment and thus found his budding interest in the digital currency industry.
Today, the Cryptocurrency market has demonstrated a visible unpredictability with a series of ups and downs. But despite that, Cai has a strong belief that the Cryptocurrency sector is going to turn massive and settle for a lot of opportunities. Though, the prices for Bitcoin dropped a massive fall this year before making progress, Cai hasn’t been demotivated by it and has made gestures to call more people into blockchain.
Cai also believes that Blockchain will act as a catalyst for the coming technological revolutions. In the Chinese blockchain group on Wechat, Cai has stated, “Similar to the industrial revolution and the dot com bubble, the underlying technology changed the world after the bubble burst. We must embrace bubbles now, as missing the bubble will be the biggest risk.”
He has also commented that there is always the presence of a distinct number of people who acknowledge a ‘future trend’ while the rest of the lot remains unfamiliar to it. With the example of Internet revolution, Cai said that as the big names like Lenovo, Haier, and China mobile missed their chance, “Internet giants of today are likely to miss the potential of the blockchain revolution, which gives opportunities to those early adopters.”
He believes that entering the market even now, shall turn highly beneficial for an investor. The only crucial step in its way is to assess the blockchain values well enough before investing. Cai also claims that as Internet has transformed every industry from insignificant to massive, blockchain is likely to follow it’s path and make a groundbreaking upliftment. And as the youth today are highly dependent on Internet as consumers, blockchain shall turn to be the next generation ‘consumer goods’ for all.