Cryptocurrency and U.S. stocks seem to be two completely different worlds, yet they are increasingly intersecting for a growing number of investors. How to use the research framework of traditional finance to understand the cryptocurrency market? How to find one’s own allocation logic between the two markets?

Today, we have invited Lin Wanwan. She has a background in traditional financial research and became connected to the cryptocurrency industry after relocating to Singapore, subsequently delving into various fields such as AI Agents, cryptocurrency research, and U.S. stock investment. She is not the type of investor who makes quick money by luck, but rather a thinker who seeks certain opportunities using a research framework and cognitive differences.

From Traditional Finance to a Firm Bitcoin Holder: The Long-term Belief Behind Buying More as Prices Drop

Lin Wanwan entered the cryptocurrency industry through two key opportunities:

The first is a change in geographical location. She shifted her focus to Singapore due to her family relocating. During the process of re-establishing her social circle there, she discovered that many of her old friends were OGs in the cryptocurrency space. "After communicating with them, I realized that this industry is very charming."

She compared the ecosystems of traditional finance and the cryptocurrency industry: "To be honest, traditional finance has somewhat lost its vitality. Many people say that the cryptocurrency field is filled with scams or dishonorable things. But in this industry, I feel everyone is doing what they want to do, full of passion, and moving forward bravely; this charm is very touching to me."

The second opportunity was a book. She read "HODL Bitcoin" by the author Jiushen, a book written in 2018 that predicted accurately that Bitcoin would surge to $100,000 around 2024 to 2025. "I happened to read this book around the time Bitcoin was around the $100,000 mark, thinking how could this person have such an accurate prediction back in 2018?"

What touched her more was a long-term prediction in the book—the author believes that 20 years later, Bitcoin's price might reach around $200,000. "I don't know if it can be realized, but it is indeed moving in that general direction. If you believe that 20 years from now it can compete with gold, then why not hoard a little as asset allocation? It might provide you with better investment returns than gold." She later also dug up Michael Saylor’s speech at a Bitcoin conference and found the logic was similar. Saylor mentioned that buying Bitcoin between 2022 and 2025 is equivalent to buying land in New York in 1790.

"Although many people think that Bitcoin at tens of thousands of dollars is already expensive, in the long river of history, it is still very much in its early stages."

These two opportunities combined led her to officially immerse herself in the cryptocurrency industry and form her own core holding logic for Bitcoin—Having currency in hand, no currency in heart. No matter how much the price is, first talk about whether it exists, then talk about how much there is.

For the short-term volatility of Bitcoin, she has a very clear mindset. "I have a position management for Bitcoin—buy more as it drops. This part of the money is primarily for the next few years, and secondly, the more it drops, the happier I actually am because I can buy more coins with the same amount of funds."

She even expressed something that many might find unexpected: "I am thankful for it to drop. Personally, I believe it may drop further in the short term, that's fine; I can continue to buy."

This mindset reflects a deep recognition of the long-term value of assets, rather than a lucky mentality in short-term speculation.

AI, Cryptocurrency, and U.S. Stocks: One Answer—Why AI is the Most Important Investment Trend Right Now

When asked how her background in traditional finance has influenced her career in cryptocurrency investing, Lin Wanwan responded with the word "perspective": "The biggest gain that finance has given me is a matter of perspective. Artists have their artistic perspective, philosophers have their philosophical perspective, and investing is also a very important perspective among them." She gave a vivid example: "Before using the investment perspective, when I look at a cup of milk tea, I just think about whether it's tasty. After using the investment perspective, when you look at a cup of milk tea, you'll think about what the rental cost is, what the labor cost is; you'll have a completely different way of observing."

With this framework in mind, she formed a clear judgment when facing the current market landscape: AI is the most important direction of this era, and it is not three separate matters apart from cryptocurrency and U.S. stocks.

Lin Wanwan’s Twitter bio contains four keywords: AI Agent, Cryptocurrency Research, U.S. Stocks, Predictive Markets. When asked which direction she focuses on the most this year, her answer was straightforward: this year, AI has been prioritized first. But she also pointed out that these four directions should not be viewed in isolation. "Especially the first three, they are complementary and intersecting."

She explained her reasoning: During this bear market, the cryptocurrency industry is undergoing a narrative shift, increasingly resembling a foundational computing and accounting tool for AI, with its independence declining; at the same time, more and more cryptocurrency-related companies are going public in the U.S., and Nasdaq is promoting the tokenization of U.S. stocks—these three directions are converging into one. "So, the largest proportion in my U.S. stock allocation is AI-related; researching AI, learning AI, also serves my U.S. stock investments."

She quoted a saying from the late chief economist of China, Zhou Jintao, to support this judgment: "Wealth in life relies on K-wave. Whether you can earn money essentially does not rely on how hard you work, but whether you can seize the trends that the times give you. You might have three to five such opportunities in your life, and you'll be very comfortable."

In her view, AI is the window that is currently opening in this era, akin to properties in Beijing's second ring 20 years ago or Apple stocks 20 years ago. "Buying an Apple phone 20 years ago wasn't important, but buying Apple stock 20 years ago was very important. What we need to think about now is what is the equivalent of Apple 20 years ago in this AI era?"

The answer to this question is exactly what she continuously searches for at the intersection of cryptocurrency and U.S. stocks using a traditional financial research perspective.

Understanding the "Trump Trade": Finding Buying Opportunities Amidst Others' Panic

When asked about her recent successful investments, Lin Wanwan mentioned her market bottom buys during last year's tariffs and this year's war, especially buying Nvidia around $93 last year.

The logic supporting these two actions stems from her research on Trump after he took office before the tariff war:

First, she reviewed the market reactions during Trump's previous term. "Trump has a nickname 'Understanding King,' and he is essentially a person who has a very high understanding of the U.S. stock market. I revisited what his policies were like during his previous presidential term, observing how the market reacted—tariffs caused a sharp market drop, followed by a very strong reversal."

Second, she read Trump's autobiography. From it, she found two notable characteristics of Trump: One, he likes to exaggerate intentionally and considers "reasonable rumors" as a negotiation tactic; two, he is extremely skilled at using language to replace actual policies to achieve the same effect. "When he is manipulating the market with language, he is actually giving you an opportunity to get in."

During March and April of last year, there were claims in the market about a "once-in-a-century Great Depression of 1929," and Lin Wanwan stated that she completely disagrees with this viewpoint. "I think this is the opportunity that Trump gives you. Whether short-term traders or mid-term investors, everyone should be thankful for Trump—his artificially created volatility has provided traders with many opportunities to profit upward."

She summarized an operational logic: Buy rumors, sell good news, and sell on certainty. The uncertainty created by Trump is, in fact, a signal to enter.

Cryptocurrency is a Game, U.S. Stocks are Win-Win—Lin Wanwan's Investment Q&A

What single asset are you most optimistic about currently?

Nvidia. I think it could become the equivalent of Apple 20 years ago, so for me, it is a role that is worth holding long-term; it is my cornerstone, and I do have some faith in it.

However, Nvidia's performance this year hasn't been stellar and has been sideways for a long time. Will you waver?

Indeed, it has been moving sideways in the $170 to $200 range for a long time this year, which is a test of patience. But because of this, my attitude towards Nvidia is different from other hot sectors—I may trade other assets more flexibly and sell high, but I will retain a portion of Nvidia for long-term holding and not easily move it. A cornerstone is a cornerstone; it cannot lose faith simply because of short-term sideways movements.

If you were given $1 million right now, how would you allocate it?

First, I would ask myself three questions: What are the liquidity requirements of this money? Will I need it in the coming years? Is my overall allocation framework already established? Are there more opportunities presented by the current market, or can my personal alpha outperform the market?

Based on this thought framework, my current actual allocation is approximately: 40% in cryptocurrency, with a core focus on Bitcoin holdings; 30% in U.S. stocks; 30% kept in cash.

Keeping so much cash is because I believe there is still significant potential for market volatility, including that the U.S. stock market is at a high level. Keeping cash allows me to remain flexible—when a true downturn comes, you won't be fully invested and find yourself helpless in front of the real big opportunities. Having cash on hand allows you to act calmly when others are panicking.

What cognitive reminders do you have for investors looking to shift from cryptocurrency to U.S. stocks?

I asked my friend why he doesn't invest in U.S. stocks, and his response was, "The opponents in U.S. stocks are Buffett and Duan Yongping. I feel I can't win." This answer made me realize that the differences between the cryptocurrency mindset and the U.S. stock mindset are indeed vast.

Cryptocurrency is a mindset of gaming; if you win, you earn other people's money. But U.S. stocks are not like that—they involve a longer-term investment logic, and if Buffett makes money, I can also make money; we can learn their methodology to make money together. The capacity of funds in U.S. stocks is very large, and the big players overlook our small investments. As long as the methodology is good enough and patience is maintained, ordinary investors can achieve stable results in this market.

How should one specifically get started with U.S. stocks?

I recommend a two-step approach.

The first step is to spend time learning the overall investment framework, clarifying what determines stock prices—macro environment, company financial reports, industry fundamentals; these are the foundation and cannot be skipped.

The second step is to learn about the CFD tool and understand its role in magnifying leverage in U.S. stocks. It is very suitable for event-driven short-term trading, such as short-term surges after each confirmation of negotiation news, using small capital combined with leverage to capture these certain opportunities, which offers a high cost-performance ratio. I believe that platforms like Bitget that are involved in CFDs may very likely give rise to star traders specializing in news event trading in the future.