From 20 to 200 million dollars in a year: know the success story of FBG Capital

in #busy6 years ago

The world of cryptocurrencies is full of great successes and defeats. The digital currencies, which began to achieve fame not only because it is an alternative to traditional money, but because it is presented as a possibility to obtain income quickly, have been responsible for the emergence of several companies with a current reputation; among them, the Asian FBG Capital, a great example of triumph using crypto assets.

FBG, which stands for Fintech Blockchain Group, is a digital asset management firm that has become the new great success story in Asia. The company, based in Beijing, managed to convert 20 million dollars to 200 million dollars in just one year, an incredible achievement for a company that 10 months ago did not even have a definitive name.

The company, which today counts among its investors the Silicon Valley venture capital firm, Sequoia Capital, has focused on three fundamental pillars since its creation: "Invest as a venture capitalist in initial offers of currencies (ICO), trade news and events going short with the tokens and, even more important, exploiting their contacts within the industry and ensuring an exaggerated marketing to guarantee their profitability, "reports Forbes.

But, without a doubt, much of the success of FBG is due to its founder, Shuoji Zhou. The 36-year-old investor grew up in Yancheng, China and studied Applied Mathematics at the University of Science and Electronic Technology. However, he assured that he never paid much attention to the classes, revealing in an interview for Forbes that "friendship, I think, is the most important thing in the university. I forgot the things I studied "; statement that goes in total agreement with the third pillar of his signature.

After college, Zhou worked in several technology giants, such as IBM and Oracle. In 2014, he invested $ 10,000 to start marketing with the most famous digital currency of the moment, Bitcoin. A year later, he resigned his job to devote himself solely to cryptocurrencies, increasing his assets by almost 100,000 dollars.

One of his tricks was to capitalize on the inefficiencies of the nascent market. I did this by buying Bitcoin in a market where the price was low and selling it in another market where the price was higher; thus, if for example he bought BTC at $ 300 and sold it at $ 301.5, he obtained a profit of $ 1.5 for each currency. Something quite simple for anyone with a fast connection to the Internet and a basic knowledge in commerce.

And as for Zhou the most important thing is the relationship, he soon joined another group of Chinese merchants who had more or less the same interests. Everyone put their money together, started investing and, by the beginning of 2017, they already had 20 million dollars. These are the beginnings of FBG.

That same year the ICO fever arrived and the FBG team did not take it lightly. Observing the founding team, talking to academics, engineers, investors, scientists and community leaders is part of their research before deciding whether or not to invest in that Initial Currency Offer.

Its fame and credibility has reached such a point that Olaf Carlson-Wee, founder of the largest cryptocurrency fund in the United States, Polychain Capital said: "I see FBG as one of the most talented investor teams in this space."

Currently, FBG Capital has employees in China, Singapore, Corra del Sur and New Zealand. Now they are also looking to expand to the United States.

This story teaches us three things: first, that succeeding by investing in cryptocurrencies is possible, despite the fluctuations of the market. The second is that digital currencies are having more power and influence day by day. And, the third, as Zhou says, relationships and connections can make the difference between success and failure.

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