Jihan Wu of Bitmain Confident that Bitcoin Will be Valued $100,000 in 5 years

WHO IS JIHAN WU
Jihan Wu is the co-founder of BITMAIN, one of most recognized and valuable bitcoin companies, and has come into limelight as a supporter of Bitcoin Unlimited, a solution to solve Bitcoin’s scalability issue. Jihan Wu founded Bitmain maintains AntPool which holds the largest hashrate distribution amongst mining pools; currently AntPool mines 16.4% of all blocks. This makes Jihan Wu highly influential in the Bitcoin community.

During Mackenzie’s interview with Wu, the mining magnate confidently predicted:

“Bitcoin price going up to $100,000 is quite possible….in 5 years”.
Mining Bitcoin can be quite profitable, particularly in areas with cheap energy and low-cost labor. Founded in 2013, Bitmain is one of the largest Bitcoin mining companies in the world. Bitmain uses ASIC chip technology to produce specialized Bitcoin mining computers.

Bitmain has 25,000 machines which are continuously mining for Bitcoin on the company’s behalf. Bloomberg reporter Tom Mackenzie was granted access to take a peek at Bitmain’s facility to witness how it works first-hand.