TechFlow news — On October 31, Wang Feng, founder of LANVIN Interactive, recalled on social media that in 2019 he had proposed investing $20 million to purchase Bitcoin (then priced under $6,000 per coin), but the proposal was strongly opposed by a board member representing a major shareholder, who even threatened legal action. It wasn't until early 2023, when Wang Feng resumed his role as CEO, that the company began executing its Bitcoin investment plan—by then, Bitcoin's price had already risen to $26,000 per coin.
The post originated from Wang Feng's commentary on MicroStrategy’s recent announcement to raise $42 billion over the next three years. Notably, MicroStrategy only began large-scale Bitcoin purchases in 2020; had LANVIN Interactive proceeded with its investment plan back in 2019, it could have achieved substantial returns.
Wang Feng also revealed that when he founded Mars Finance in 2018, the platform secured nearly $10 million in funding within a year, achieved peak monthly advertising revenue of up to 120 Bitcoin, and earned approximately 10 million RMB in sponsorship from a single conference event during the summer of 2020.
