Core Insights - The article discusses the rise and fall of Li Xiaolai, a prominent figure in the cryptocurrency space, particularly Bitcoin, highlighting his journey from a teacher to a billionaire investor and the subsequent backlash he faced after many of his followers lost money in Bitcoin investments [2][17]. Group 1: Li Xiaolai's Background and Early Career - Li Xiaolai, born in 1972, had humble beginnings and pursued education as a means to achieve success, eventually graduating from Changchun University [4]. - After graduation, he engaged in various business ventures, including a clothing wholesale business, before becoming the general manager of Shenyang Bosheng Technology Co., Ltd. [6][8]. - He later transitioned to the education sector, joining New Oriental as a teacher, where he quickly gained popularity and authored successful English study materials [6][8]. Group 2: Entry into Cryptocurrency - In 2008, Li Xiaolai founded a consulting company focused on overseas study services, but he later shifted his focus to Bitcoin after recognizing its potential [8][10]. - By 2011, he had conducted extensive research on Bitcoin and decided to invest all his savings, purchasing 100,000 Bitcoins, a bold move that few were willing to make at the time [11][10]. - His investment paid off, leading to significant wealth accumulation as Bitcoin's value soared [11][13]. Group 3: Rise to Prominence and Subsequent Controversy - Li Xiaolai capitalized on his success by establishing investment funds and sharing his wealth-building strategies online, attracting a large following [13][15]. - He launched a virtual currency project, selling 22 billion virtual Bitcoins, which converted into real currency, further increasing his wealth [13][15]. - However, as Bitcoin faced regulatory challenges and market volatility, many of his followers suffered financial losses, leading to public backlash against him [15][17]. Group 4: Aftermath and Current Status - Despite the criticism and accusations of fraud, Li Xiaolai's personal wealth remained largely intact as he had already liquidated his Bitcoin holdings before the market downturn [17][19]. - He continued to invest in other industries and authored a book titled "The Self-Cultivation of Leeks," discussing the harsh realities of investment and the concept of personal responsibility in financial losses [19][17].