A Look at the 5 Key Leaders of Listed "Strategy" Companies in Asia

Written by: Wenser, Odaily Planet Daily

Michael Saylor, founder of Strategy, successfully validated the effectiveness of the "BTC accumulation strategy" in boosting publicly traded company stock prices through his foresight. Many founders of companies in Asia have since begun to follow suit. As BTC holdings among listed companies continue to rise, founders, CEOs, and executives of Asian-based listed companies (including those listed in the U.S.) are gradually becoming the uncrowned kings and "behind-the-scenes decision-makers" of this crypto-financial cycle.

Odaily Planet Daily summarizes key representative figures from select BTC-holding public companies to shed light on the individuals shaping the future of cryptocurrency in Asia.

CEO Liu Weihong of Next Technology Holding: 5,833 BTC held

Next Technology Holding Inc (NXTT) ranks 15th among public companies in BTC holdings with 5,833 BTC. At the end of 2024, this number was only 833 BTC. Looking back at the company’s BTC reserve buildup, two critical milestones stand out:

First, in January 2024, Dong Lichen, chairman of WeTrade Group (the predecessor of Next Technology Holding Inc), filed documents with the U.S. SEC appointing Liu Weihong as Chief Executive Officer (CEO). According to the filing, “Mr. Liu Weihong has over six years of investment and research experience in digital assets and blockchain technology; he has conducted in-depth analysis and strategic planning regarding potential investment opportunities in digital assets. Additionally, he has innovative business plans in high-tech and fast-growing AI-generated content sectors, with profound understanding of compliance requirements, market insights, and product functionality. He also possesses extensive knowledge and strong execution capabilities in corporate culture development and experience in building diverse cultural communication systems. Mr. Liu holds a Bachelor’s degree in Business Management from the University of the West of England.” Public information about Liu Weihong is limited, and Odaily Planet Daily has not found further details. Based on available information, Liu appears to be a professional manager and strategic advisor brought in specifically to establish the company’s BTC reserves. Shortly after his appointment, Next Technology Holding began its “BTC reserve strategy.”

Second, on March 12 this year, Next Technology Holding filed documents with the U.S. SEC indicating it had raised funds through stock and warrant issuance to purchase an additional 5,000 BTC.

In early May, following public disclosure of its BTC holdings, Next Technology Holding Inc (formerly WeTrade Group Inc.) saw its stock price surge by 740% to $2.70, though it has since declined to $1.03.

Notably, the company publicly states its core businesses are software development and Bitcoin investment. Its net income for Q1 2025 reached $193.4 million, almost entirely derived from unrealized gains on digital assets.

Zhang Xiaojuan, former Chairman of Cango: 4,679 BTC held

Zhang Xiaojuan

Founded in 2010 as a traditional tech-enabled auto trading platform, Cango Group completed its U.S. IPO in 2018, achieving nearly RMB 350 million in annual profit in 2017 just before going public. The key figure behind Cango’s successful listing was its chairman, Zhang Xiaojuan. In 2004, he played a leading role in establishing China’s first automotive finance company—SAIC-GM Automotive Finance Co., Ltd.—and subsequently served as director and deputy general manager for nine years. After leaving that company, he disappeared from public view for nearly five years before re-emerging as chairman of Cango Group, a position he held until July this year.

Notably, while Cango’s auto trading services remained relatively stable as a listed company, this year it made a bold move to exit its traditional business entirely via a $352 million transaction, shifting focus to Bitcoin mining for Bitmain (one of the world’s leading mining hardware manufacturers) and rapidly rising to become the second-largest global mining firm by hash rate through acquisitions.

In March, Cango held 1,944 BTC, worth approximately $162 million at the time.

In July, Cango Inc. (NYSE: CANG) announced the completion of its transformation into a global Bitcoin mining company and appointed a new board and executive team: Xin Jin as Chairman and non-executive director; Peng Yu as CEO and director; Chang-Wei Chiu as director; Yongyi Zhang as CFO; and Simon Ming Yeung Tang as Chief Investment Officer. Zhang Xiaojuan resigned as director and board chairman, while Lin Jiayuan stepped down from roles as CEO, interim CFO, and director. Both completed a secondary share sale, selling a total of 10 million Class B ordinary shares to Enduring Wealth Capital Limited for $70 million. They also voluntarily converted all remaining Class B ordinary shares held by their controlling entity into Class A ordinary shares with one vote per share. Upon completion, they collectively held 18.54% of total outstanding shares and 12.07% of voting power, while Enduring Wealth Capital Limited held approximately 2.82% of shares and 36.73% of voting rights.

Thus, Cango completed its deep transformation and leadership transition from an auto trading service provider to a Bitcoin mining enterprise.

According to official disclosures, Cango’s current CEO Peng Yu previously served as Managing Director at ABC International Investment Management Co., Ltd., CEO of Zhongrong Huijin Asset Management Co., Ltd., and Senior Vice President at ORIX Asia Capital Limited. Earlier, he worked in the investment banking division of China Construction Bank International Financial Co., Ltd., and later became a board and investment committee member of a private equity fund under China Construction Bank International Holdings. With over 18 years of cross-industry leadership experience spanning BTC mining, energy, M&A, and asset management, Peng holds a Master’s degree in Corporate Media from Marietta College and a Bachelor’s degree in Financial Engineering from Shandong University. As of now, Cango holds 4,679 BTC, ranking 20th globally among public companies.

Dai Zhikang, Chairman of Board of Boyaa Interactive: 3,416 BTC held

Dai Zhikang (Image source: Baidu Baike)

Despite establishing BTC reserves, Boyaa Interactive—a 20-year-old veteran gaming company—has not fully transformed into a "crypto shell company." In the first half of 2025, its online gaming revenue still accounted for as high as 97.3%, and over 95% of its 226 employees remain game industry professionals. The company once achieved annual revenues exceeding RMB 500 million from its single game "Texas Poker." As gaming revenues declined, Boyaa Interactive began turning its attention toward the broader financial sector.

According to Dai Zhikang, Chairman of Boyaa Interactive’s Board, “Gaming and Web3 naturally converge. We aim to leverage our strengths to create high-quality Web3 gaming products. At its core, what Boyaa does is sell virtual tokens and items like in-game currency. In a sense, poker game chips are similar to stablecoins.”

The name Dai Zhikang carries a legendary personal journey. Born in 1981 in Daqing, Heilongjiang, he was once known as one of Beijing’s “Four Young IT Stars” alongside Li Xiang, founder of Autohome and Li Auto, due to his entrepreneurial success in the city.

In 2001, he started with just 800 yuan to launch Discuz!, an internet community forum software that was eventually adopted by nearly 600,000 websites, becoming one of the most widely used community platforms globally.

In 2004, Dai founded Beijing Kesion Century Technology Co., Ltd. (later renamed Kesion Innovation) in Zhongguancun, Beijing. In 2006, Sequoia Capital invested millions of dollars in its first round of funding, making it the first Chinese network community software company to receive top-tier venture capital. In 2010, Chinese internet giant Tencent fully acquired Kesion Innovation—including Discuz!—for over $60 million (approximately RMB 468 million).

In 2008, Dai embarked on his angel investing career, early backing companies such as Boyaa Interactive, Huobi Group, Moments Camera, Mama Bang, and Shell Software. Over more than a decade, over 30% of his portfolio companies grew from teams of fewer than ten people into mid-sized enterprises with sales exceeding one billion yuan. It is rumored that starting with only RMB 1 million in investment capital, he allocated RMB 400,000 to Boyaa Interactive, achieving over 1,000x returns when the company went public.

Unlike many internet industry figures who frequently criticize cryptocurrencies, Dai Zhikang, a “veteran of the internet era,” firmly believes in Bitcoin and has been accumulating it aggressively. Despite Boyaa Interactive’s BTC holdings already doubling in value, no减持 (reduction) activities have ever been disclosed.

As of mid-August, according to official announcements, Boyaa Interactive holds 3,416 BTC at an average cost of approximately $59,300 per BTC, making it the Hong Kong-listed company with the largest BTC holdings.

Kong Jianping, Founder of Nano Labs: 1,000 BTC held

Kong Jianping

Kong Jianping, currently active in the cryptocurrency space as founder of U.S.-listed Nano Labs, initially gained prominence as an investor in Canaan Inc.—known as the “first Bitcoin mining machine stock.” He later joined Canaan as Co-Chairman and led the company’s Nasdaq IPO.

In August 2020, Kong stepped down as Co-Chairman of Canaan’s board upon completion of his term. Subsequently, he focused on Haowei Technology, which he founded in Hangzhou, Zhejiang in 2019, and successfully took its parent company—Nano Labs, a chip design firm headquartered in Hong Kong—public on the Nasdaq in 2022.

In February this year, Nano Labs raised $5.9 million through a private placement and increased its BTC holdings to 400 BTC at an average acquisition cost of approximately $99,500 per BTC, including fees.

In June, Nano Labs used a $500 million convertible bond financing to purchase an additional 600 BTC (worth $63.6 million at the time), bringing its total BTC holdings to 1,000 BTC.

Additionally, notably, in June this year, Nano Labs initiated a strategic BNB reserve, causing its stock price to surge over 130%. In July, the company announced an investment in CEA INDUSTRIES Inc., a company dedicated to BNB strategic reserves, further strengthening its BNB position. Under the agreement, Nano Labs subscribed to 495,050 shares of Class A common stock in CEA INDUSTRIES INC. at $10.10 per share. The investment also included an equal number of 495,050 warrants with an exercise price of $15.15 per share. If fully exercised, Nano Labs could hold up to 990,100 shares in the company.

According to its recently released first-half financial report, Nano Labs recorded net revenue of RMB 8.3 million (approximately $1.2 million) in the first half of the year, compared to RMB 24.7 million in the same period of 2024. Net loss was RMB 11.8 million (approximately $1.6 million), a significant improvement from last year’s net loss of RMB 59.1 million. Per official disclosure, the company currently holds over 128,000 BNB.

DDC Founder, Chairman, and CEO Zhu Jiaying: 588 BTC held

Zhu Jiaying

DDC Enterprise Limited (DDC), founded in 2012 and headquartered in New York, is a U.S.-listed company offering DayDayCook-branded ready-to-heat, ready-to-cook, and ready-to-eat plant-based meal products across mainland China, Hong Kong, and the United States. Additionally, it provides advertising services including production and online distribution of promotional videos, ad placements on its website channels, and offline promotions; third-party branded food products; cooking courses; and content streaming and product marketing services. DDC sells its products through third-party e-commerce platforms, distributors, and offline retail chains and supermarkets.

Its official WeChat account “日日煮 DayDayCook” is also one of China’s leading food content accounts.

In May, the company announced the establishment of a strategic BTC reserve, purchasing 21 BTC initially.

In July, DDC’s founder, chairman, and CEO Zhu Jiaying published an “Open Letter to Shareholders” stating: “We have secured initial funding of $53 million from renowned partners including Anson Funds, Animoca Brands, and Kenetic Capital, along with a commitment of up to $528 million in transformation capital to execute our Bitcoin reserve strategy. Furthermore, DDC has filed a $500 million F-3 universal shelf registration statement with the U.S. SEC to enable flexible investment actions going forward.” Finally, he outlined the company’s vision—to hold 10,000 BTC by the end of 2025 and become one of the top three global Bitcoin reserve companies within three years.

Undoubtedly, the leap from a food brand to a strategic BTC reserve company is enormous. Yet, from Zhu’s shareholder letter, it is clear both he and the company are resolute in their ambitions.

In August, the company officially announced another purchase of 120 BTC, bringing its total holdings to 488 BTC at an average cost of $98,737 per BTC. Compared to its initial purchase in May, this represents an 819% increase in return. At that time, holdings equated to 0.058704 BTC per 1,000 DDC shares. As of today, its holdings have risen again to 588 BTC.