(Kitco News) 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.
Bitdeer Technologies Holding Co., which Wu leads, paid $28.4 million to purchase Le Freeport, which is a state-of-the-art maximum security vault in Singapore designed and engineered by a team of Swiss architects and engineers. The news was reported by Bloomberg, citing people familiar with the matter.
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 vault's depository includes gold and silver bars, precious gems, and fine art from shareholders headed up by Swiss art dealer and founder Yves Bouvier, the media report said.
The...
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