Hong Kong Bitcoin Millionaire ‘Airdrops’ 100 Million HKD ($13 Million USD) Fiat to Promote Crypto

The cryptocurrency world has been marred by explosive investors who were able to buy Bitcoin before it spiked to an all-time high of about US$20,000. From Lamborghini stories, gold watches and more extravagant spending to the latest narrative in Hong Kong.

A Hong Kong Bitcoin millionaire on Saturday airdropped millions of Hong Kong dollars (HKD) in a publicity stunt that left may investors worried about future prices of Bitcoin.

Coin Master Throws Off Loads Of Fiat In Hong Kong

In a video that surfaced on various social media outlets this Saturday, a hooded man was seen throwing off local currency around Fuk Wa Street and Sham Shui Po. The neighborhood is one of Hong Kong’s underprivileged areas which brought about a commotion during the airdrop. The “Robin hood” later was revealed as Wong Ching-kit, a 24 year old early Bitcoin investor.

Chinese 24 year old Bitcoin Millionaire Wong ching kit 黄鉦杰 AKA bi shao ye 币少爷 (Mr coin ) throws 100’s of millions of HKD from the roof top. He said “he feels as if he is god and he is responsible to teach the world about bitcoin.” Is this a sign of a bullrun incoming or ?! pic.twitter.com/IfgKykB0ME

— Mia Tam (@_blockandchain_) December 16, 2018

The latest stunt saw close to 100 million HKD (US$13 million) dropped to citizens of the area in fiat currencies as the police tried to control the situation. It however is impossible to control crowds to free money as crowds of people wanted a piece of the rain money.

Immediately after the publicity stunt, Mr. Wong, also referred to as Mr. Coin, went on Facebook to address the issue to his followers. The video has since gained hundreds of shares and likes and has circulated the web as Bitcoiners mourn the current state of the cryptocurrency market. In his video address, the 24-year old ranted a 2 minute monologue saying he was “robbing the rich and giving it to the poor”.

Furthermore, the self-proclaimed “Robin hood” said he “feels like a god” and is responsible to “teach the masses about Bitcoin.” With such stunts becoming public, does it impact the long term value of Bitcoin?

Despite the noble gesture shown by Wong to help the underprivileged in society, other people felt the young investor could have a better way to spend his riches. This brought about local investigations on Wong as the authorities arrested him for “disorderly conduct in a public place”.

The Bleak Nature Of Mr. Coin’s Acts

The ‘heroic’ act was quickly blasted by one of Twitter’s exposé threads by Leo Weese who claimed Wong has a bleak past in the crypto industry. In his tweets, Weese claims Wong is a “well-known” cryptocurrency mogul in “cryptocurrency pyramid-like schemes” as well as blasting the Hong Kong locals for praising a supposed criminal. He further added that Mr. Wong was connected to the great “London Golden Scam.”

However, the kindness of helping the poor will always sit well with the majority of the population as charity is always welcome across societies. After all, it is Wong’s money, he may choose to spend it as he likes.