Chinese crypto billionaire Jihan Wu is diversifying into physical assets, including precious metals, gems and fine art, with his recent purchase of what is dubbed Asia's Fort Knox.
Jihan Wu is an influential figure in the crypto space. He founded Bitmain Technologies Ltd, which is the largest Bitcoin mining-machine manufacturer, with a revenue of $5.6 billion in 2021. Wu left the company last year and is now heading up its Bitcoin-mining spinoff Bitdeer and crypto-finance company Matrixport.
The transaction was private and happened in July. Prior to this, Bouvier had been unsuccessful in trying to sell Freeport, located in Singapore near Changi airport. "The facility offers integrated services to handle the shipping, storage, display and trade of these valuables … Maximum security and 24/7 security access. Stringent security provisions include electronic monitoring of staff, clients and valuables as well as armed guards," described Freeport's website.