"95’s crypto millionaire" — this is the label Zheng Haosheng carries in the cryptocurrency world. Starting with just 140,000 RMB, he navigated the volatile markets, saw his fortune skyrocket to over 100 million RMB, and faced significant losses with resilience. "As long as you can stand up again, you’re a winner," he says.
From College Student to Crypto Trader
Born in the mid-90s, Zheng Haosheng first encountered Bitcoin in 2013 while studying at Liaoning University. However, lack of funds and knowledge kept him from diving in immediately. Instead, he juggled campus media projects, entrepreneurial ventures, and part-time jobs.
His restless spirit was evident early on. Before his college entrance exams, he stayed up all night playing League of Legends, slept through his science test, and underperformed. Despite this, he graduated with a dual degree in electronics and finance, ranking fourth in his class.
After a brief stint as a Beijing office worker, Zheng realized his 10,000 RMB salary couldn’t cover rent, travel, or dating expenses. Seeking a high-return, low-capital investment, he turned to cryptocurrencies.
The Allure and Risks of Crypto Trading
Unlike stocks, cryptocurrencies operate 24/7 with no price limits and follow a T+0 trading mechanism (buy and sell on the same day). This demands extreme vigilance and adaptability from traders.
In April 2017, Zheng dipped his toes in with 10,000 RMB, buying Litecoin (LTC). Overnight, he earned 7,000 RMB, and soon his daily profits exceeded 10,000 RMB. Encouraged, he quit his job and poured his entire savings—140,000 RMB—into trading.
But the market humbled him quickly. On May 26, Litecoin crashed by over 50%. Hoping for a rebound, Zheng reinvested everything—only to watch his gains vanish.
Recovery and Reinvention
Devastated, Zheng considered quitting crypto. But mentorship from experienced traders and relentless self-education turned his fortunes around. He spent months analyzing charts, documenting price swings every four hours, and seeking advice in trading groups.
On September 4, 2017, China banned ICO (Initial Coin Offerings). While panic selling ensued, Zheng saw opportunity. He shorted Litecoin with 20x leverage, turning his portfolio into eight figures overnight. Later, he bought undervalued altcoins, riding the bull market to a net worth exceeding 100 million RMB.
By late 2017, Bitcoin hit $15,000 (~100,000 RMB), and outsiders assumed Zheng held 1,000 BTC—earning him the nickname "Thousand-Coin Lord." He clarifies: "I never bought that many at once."
Wealth and Wisdom
At 23, Zheng achieved financial freedom, splurging on luxury watches and second-hand sports cars. Yet he remained frugal in investments: "I’m just more relaxed with spending now, but I stay cautious with unnecessary expenses."
Open about his hunger for wealth, he advises younger peers: "The sooner you build a money mindset, the better." He believes delayed financial success impacts family life and retirement planning.
Now a partner at a crypto asset management firm, Zheng maintains a grueling schedule, taking meetings even at dawn.
The 2018 crypto crash wiped out much of his fortune. Reflecting, he admits: "I don’t have ‘100 million’ anymore." But he owns his mistakes: "Failure isn’t fatal—what matters is learning and standing back up. If you can rise, you win."
The crypto world brims with get-rich-quick stories, but Zheng’s journey underscores resilience. Is ambition good or bad? There’s no universal answer.
FAQs
Q: How did Zheng Haosheng start in cryptocurrency?
A: He began trading in 2017 with 14,000 RMB, leveraging Bitcoin and altcoins like Litecoin.
Q: What’s his biggest trading lesson?
A: "Market timing is everything. Greed blinds you—discipline saves you."
Q: Why does he call himself an ‘over-the-hill influencer’?
A: A self-deprecating nod to his fleeting fame during the 2017 crypto boom.
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Q: What’s his advice for new traders?
A: "Start small, learn relentlessly, and never risk more than you can lose."
Q: How does he handle market crashes?
A: By analyzing mistakes, adjusting strategies, and staying emotionally detached.